Cotton futures close higher


ZHENGZHOU, Aug. 23 :Cotton futures closed higher Monday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).

The most active cotton contract for January 2022 delivery gained 55 yuan (about 8.47 U.S. dollars) to close at 17,860 yuan per tonne.

On Monday, the total trading volume for six listed cotton futures contracts on the ZCE was 440,857 lots with a turnover of 39.17 billion yuan.

As the world’s largest producer, consumer and exporter of textile, China listed cotton futures on ZCE in June 2004, helping cotton-related enterprises hedge the price risk.