SHANGHAI, Jun. 5 (SMM) – SMM #1 nickel prices were quoted between RMB 132,600-133,100/mt. Jinchuan lowered nickel prices by RMB 3,500/mt to RMB 133,500/mt. Transactions were muted, with Jinchuan nickel traded RMB 300/mt below prices of nickel for July delivery on the Wuxi electronic trading, with Russian nickel prices RMB 600/mt below prices of nickel for July delivery. Traders lacked arbitrage opportunities, and end users lacked buying interest due to cash flow tightness. Traders mainly operated in the spot market, with prices falling to RMB 132,000-132,200/mt.