SHANGHAI, Apr. 16 (SMM) – In Shanghai, SMM #1 nickel prices were between RMB 121,500-122,500/mt. Jinchuan raised nickel prices by RMB 2,000/mt, to RMB 123,000/mt. Transactions were quiet in the morning due to market caution, but brisk in the afternoon as bargain hunters entered the market after nickel prices leveled out. But end-users took a wait-and-see attitude. Jinchuan nickel prices dropped to RMB 114,500-118,000/mt in the afternoon, and Russian nickel prices were RMB 900-1,000/mt below Jinchuan nickel prices.