Shanghai base metals were mostly higher on Friday morning as investors reacted to the release of US President-elect Joe Biden's $1.9 trillion coronavirus rescue package. Meanwhile, their counterparts on the LME traded mixed. Shanghai base metals mostly advanced in overnight trading. Copper added 0.94%, aluminium rose 0.88%, lead increased 0.81%, tin went up 0.59% and nickel strengthened 3.18%, while zinc fell 0.1%. The LME complex closed mixed on Thursday. Lead slid 1.42%, aluminium declined 0.3% and zinc weakened 0.6%, while tin climbed 0.79%, copper rose 1.42% and nickel increased 3.56%. Federal Reserve Chairman Powell said that the Federal Reserve will continue to maintain ultra-loose policy and will maintain low interest rates for a longer period of time. Powell's speech consolidated the market's hope for a lower interest rate environment, while US President-elect Biden was about to announce a $1.9 trillion economic rescue bill, placing optimistic expectations on investors, and copper futures rose sharply at night. In terms of spot prices, base metals rose sharply at night with limited market supply. Traders had a strong sentiment of holding prices in the market. The favorable US economic stimulus policy and loose monetary policy boosted the risk appetite, but the reduction on the supply side was less than expected on the fundamentals, and the consumption side was disturbed by the pandemic. Most enterprises may have a large reduction in early holiday, and the fundamentals are weak. It is expected that zinc prices will still fluctuate weakly in the near term.