SHANGHAI, Jul. 5 (SMM) – In Shanghai, #1 nickel prices were quoted between RMB 96,600-97,600/mt, down RMB 1,200/mt from the previous day. The average Jinchuan nickel price was RMB 97,100/mt, with Russian nickel prices averaging RMB 96,100/mt. But as LME nickel prices edged up from RMB 13,785/mt in the afternoon, spot nickel prices rose by RMB 100-200/mt, with Jinchuan nickel prices around RMB 96,700/mt and Russian nickel prices around RMB 97,700/mt. Both downstream buyers and traders were cautious as LME nickel prices fluctuated weakly, and due to European economic problem and ahead of US non-farm employment data, with transactions muted.