[On May 29, spot prices of refined nickel fell sharply, while premiums rose.] Today, the SMM 1# refined nickel price was 120,000-123,050 yuan/mt, with an average price of 121,525 yuan/mt, a decrease of 1,725 yuan/mt from the previous trading day. The mainstream spot premium quotation range for Jinchuan #1 refined nickel was 2,300-2,700 yuan/mt, with an average premium of 2,500 yuan/mt, an increase of 300 yuan/mt from the previous trading day. The premiums and discounts quotation range for Russian nickel was 100-400 yuan/mt, with an average premium of 250 yuan/mt, unchanged from the previous trading day.