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China and India are set to dominate the demand –supply dynamics in zinc industry even as global market continues to remain dully on Eurozone crisis and slowdown in emerging economies. China production of zinc rose 33.7% in the first five months of 2012 , according to latest report by International Lead and Zinc Study Group (ILZSG) while Indian demand is expected to average 8-10 perceent, according to Hindustan Zinc Ltd (HZL), the largest integrated producers of lead and Zinc in the world. Indian demand is expected to grow at twice the rate of growth in global demand. By the second half of FY13, HZL decides to expand capacity at Rampur Agucha, one of the largest zinc mines globally. Production in the first half of FY13 is likely to be marginally lower than the previous corresponding year. HZL plans to more than make up for the lower output between October-March 2012-13 as the company expects developmental ore from Rampur Agucha underground mine and Kayar mine in the second half of FY13. The global demand of zinc to increase at a rate of 3-4% per annum, soaring China production helped raised global output by 11% till May. ILZSG data shows that refined zinc metal supplies exceeded demand by 149 kt globally in January to may 2012. During the same period total reported inventory levels increased by 85kt. Increases in refined zinc metal output in India , Japan , the Republic of Korea , Mexico , Peru and the United States were more than balanced by decreases in Belgium , Brazil , Canada , China and South Africa resulting in an overall reduction worldwide of 1%. Global usage of refined zinc metal increased by a marginal 0.6% with demand in Europe falling by 4.6% and rising by 1.4% and 2.4% in China and the United States respectively.