* Nickel retreats from two-year peak, zinc from 10-year high
* GRAPHIC-2017 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, adds LONDON dateline)
LONDON, Nov 2 (Reuters) - Base metals pulled back almost across the board on Thursday, with traders cashing in gains after the biggest two-day jump in nickel prices in more than three years and a rally in zinc to its highest in a decade.
Stainless steel raw material nickel surged by more than $1,100 a tonne over Tuesday and Wednesday on expectations that demand would be boosted by a rise in electric car buying, while zinc hit its highest since August 2007 on supply deficit expectations.
"It's going to be a long time before electric vehicles have a material impact on overall demand," Capital Economics analyst Caroline Bain said. "It is good news for nickel that it's got a longer-term future, but in short, it's a bit overdone.
"Zinc has a much better (picture) underpinning it - exchange stocks are very low, supply is tight."
* NICKEL: London Metal Exchange nickel, which hit its highest in more than two years at $13,010 a tonne on Wednesday, was down 1.6 pct at $12,575 by 1107 GMT. Prices are still up nearly 9 percent this week.
* ELECTRIC VEHICLES: Manufacturers are increasingly trying to boost usage of nickel in electric vehicle batteries in preference to expensive, hard-to-source cobalt.
* ZINC PRICES: Zinc was down 2 percent at $3,212 a tonne after rising to its highest since 2007 on Wednesday at $3,326.
* ZINC STOCKS: Zinc inventories held in LME-registered warehouses <MZNSTOX-TOTAL> fell by another 3,125 tonnes, data showed on Thursday, to their lowest since early October at 250,900 tonnes.
* LME WEEK: Traders, producers and end-users have gathered in London for a key industry conference this week.
* U.S. DOLLAR: The dollar fell as investors took profits after the Federal Reserve left interest rates unchanged on Wednesday, as expected, while uncertainty around the next U.S. Federal Reserve chair wound down as U.S. President Donald Trump prepared to nominate moderate Governor Jerome Powell.
* COPPER: LME copper was down 0.6 percent at $6,888 a tonne after Wednesday's gain of 1.3 percent.
* COPPER TECHNICALS: LME copper could retest resistance at $7,013 a tonne because its rally from the Oct. 27 low of $6,782.50 looks incomplete, Reuters technical analyst Wang Tao said.
* OTHER METALS: Aluminium was down 0.9 percent at $2,165.50 a tonne, lead fell 0.9 percent to $2,459 and tin was little changed at $19,400.
(Additional reporting by Melanie Burton in Melbourne and Tom Daly in Beijing; Editing by David Goodman)