* U.S. jobs data weak, increases chance Fed will announce QE3 * China approves $157 billion infrastructure spending * Euro rises on ECB plan to lower borrowing costs for some EU members By Susan Thomas and Maytaal Angel LONDON, Sept 7 (Reuters) - Copper rose to its highest price in nearly four months on Friday, driven by hopes for more quantitative easing in the United States, China's approval of a multi-billion dollar infrastructure programme and the European Central Bank's plan to shore up its region's economy. Data showed U.S. jobs growth slowed more than expected in August, setting the stage for the Federal Reserve to pump additional money into the sluggish economy next week. Non-farm payrolls increased only 96,000 last month, against an expected 125,000. In China, the world's largest consumer of copper, the green light was given earlier for 60 infrastructure projects worth more than $150 billion. The move is expected to energise an economy mired in its worst slowdown in three years. Copper is used heavily in construction and power cables. The news came after the European Central Bank announced a potentially unlimited bond buying plan Thursday, which is expected to lower the borrowing costs of indebted countries like Spain and Italy and ease fears over the future of the euro. "Prices are rising in anticipation of a potential policy response to a weak situation. There is nothing fundamentally to warrant the rise in prices, absolutely nothing. If stimulus doesn't come or doesn't work, then these markets are rising on air," said Macquarie analyst Duncan Hobbs. Three-month copper on the London Metal Exchange was at $7,881 a tonne at 1324 GMT, from a last bid of $7,700 on Thursday, having earlier hit $7,895, its highest since mid May. Reuters data showed copper's 100-day moving average at $7,664, meaning the current prices was above this level. Aluminium, zinc and lead also hit multi-month highs. Fed Chairman Ben Bernanke last week said the labor market's stagnation was a "grave concern," a comment that raised expectations for a further easing of monetary policy as soon as the central bank's meeting next Wednesday and Thursday. Helping copper, the euro climbed to a near four month high against the dollar, cheered by the prospect of more quantitative easing in the U.S., and by the ECB plan to address bond market distortions. The stronger euro makes copper, and other commodities priced in dollars, more affordable for European and other non-U.S. investors. "This (ECB) plan averts disaster, for now, rather than any long-term sustainable strategy. But that's fine, that's all that's really required at the moment," said Marex macro strategist Guy Wolf. "If China and the U.S. are supportive for copper, Europe only matters to the extent that is it going to implode or not." China's plan to build highways, ports and airport runways, is among the most ambitious unveiled in the country this year, and signals a growing intent to bolster economic growth as the country's once-a-decade leadership change looms. TIN Three-month tin was at $20,050 per tonne from $19,725 at the close on Thursday. The metal has fallen around 24 percent since February. Refined tin shipments from Indonesia dropped 32 percent in August from the previous month, a trade ministry official said on Friday, as the current low prices for the metal continued to limit supplies from the world's top exporter. Three-month zinc was at $1,954 per tonne from $1,940 at Thursday's close, having hit a near four-month high earlier of $1,964.50, lead was at $2,077.25 f r om $2,048, having also hit a near four-month high of $2,085.75. Aluminium was at $2,002 a tonne from $1,975, having hit its highest in more than three months at $2,004, and nickel was at $16,309 from $16,060. Metal Prices at 1334 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2009 Ytd Pct move COMEX Cu 360.30 8.10 +2.30 334.65 7.66 LME Alum 1994.50 19.50 +0.99 2230.00 -10.56 LME Cu 7855.00 115.00 +1.49 7375.00 6.51 LME Lead 2070.00 22.00 +1.07 2432.00 -14.88 LME Nickel 16255.00 195.00 +1.21 18525.00 -12.25 LME Tin 19950.00 225.00 +1.14 16950.00 17.70 LME Zinc 1940.00 32.00 +1.68 2560.00 -24.22 SHFE Alu 15625.00 5.00 +0.03 17160.00 -8.95 SHFE Cu* 56670.00 360.00 +0.64 59900.00 -5.39 SHFE Zin 15020.00 75.00 +0.50 21195.00 -29.13 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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