SHANGHAI, Apr. 17 (SMM) – In Shanghai, SMM #1 nickel prices were between RMB 116,400-117,400/mt. Jinchuan lowered nickel prices by RMB 4,000/mt, to RMB 119,000/mt, with transactions quiet. Russian nickel holders were holding back goods, with Jinchuan nickel transactions mainly made among arbitrage traders. Some downstream buyers purchased Russian nickel, with prices rising to RMB 116,700-117,700/mt in the afternoon.