SHANGHAI, Jul. 3 (SMM) – SMM #1 nickel prices were between RMB 87,900-89,400/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 500/mt in the morning. Discounts of Russian nickel against Jinchuan nickel were RMB 500/mt. Traders sold actively, and some buyers purchased at lows, causing trading to improve, and with traded prices between RMB 88,200-89,400/mt. LME nickel prices surged in the afternoon, and premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading remained around RMB 500/mt, while discounts of Russian nickel at RMB 500/mt. Traders turned cautious, with trading quiet. Jinchuan Group raised price by RMB 1,000/mt to RMB 89,300/mt.