SHANGHAI, May 29 (SMM) – SMM #1 nickel prices were between RMB 96,000-101,600/mt. Premiums of Jinchuan nickel fell to RMB 4,700/mt as traders sold actively. Spot premiums of Russian nickel also dropped. Downstream buyers purchased as needed, with traded prices between RMB 96,000-101,000/mt. Jinchuan Group lowered ex-works prices in the afternoon, causing traders to sell proactively. But downstream buyers turned cautious, leaving trading muted and traded prices between RMB 95,700-100,500/mt. Jinchuan Group raised prices by RMB 1,000/mt to RMB 101,000/mt.