SHANGHAI, May 23 (SMM) – SMM #1 nickel prices were between RMB 96,000-100,300/mt. Both traders and downstream buyers replenished stocks as nickel futures prices plunged in the morning, but turned cautious after prices rose again. Premiums of Jinchuan nickel were firm due to tight supply, with traded prices between RMB 95,700-100,000/mt. Traders and downstream buyers remained on the sidelines in the afternoon despite higher nickel prices. Only a few deals for Russian nickel were down, with traded prices between RMB 96,000-99,900/mt.