SHANGHAI, Aug. 12 (SMM) – SMM #1 nickel prices were between RMB 82,600-883,500/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 200/mt in the morning. Spot nickel prices rose as nickel futures prices surged in the afternoon, but trading was sluggish. Traders lowered their quotes, with mainstream traded prices between RMB 82,600-83,000/mt. Traders sold proactively in the afternoon as nickel futures prices fell, with premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading down to zero. A few traders purchased at lows, and downstream buyers purchased as needed, with traded prices between RMB 82,400-82,900/mt. Jinchuan raised price by RMB 2,700/mt to RMB 83,400/mt.