SHANGHAI, Jun. 11 (SMM) – SMM #1 nickel prices were between RMB 97,700-10,060/mt. Traders sold actively in the morning as nickel prices continued to fall slightly. When combined with reimports of Jinchuan nickel, supply was sufficient. Trading of Russian nickel improved as downstream buyers replenished stocks, with traded prices between RMB 98,000-100,200/mt. Nickel prices rose slightly in the afternoon, but premiums of Jinchuan nickel against the most actively traded nickel contracts on the Wuxi electronic trading fell to RMB 1,700/mt. Inflows of imported nickel will decrease due to the falling SHFE/LME nickel price ratio, but spot nickel remains in overhang. Downstream buying interest was low, with traded prices between RMB 98,200-100,500/mt.