In Q1 2025, the Hot Dipped Galvanized Coil (HDG) market saw price increases across the UK, USA, India, and China compared to Q4 2024. In China, HDG prices rose to a range to USD 627/MT in Q1 2025, as against USD 626/MT in last quarter supported by a modest rebound in domestic demand and improved export activity, as buyers in Southeast Asia and Africa sought competitively priced Chinese material.
The UK and European markets experienced upward momentum, driven by tighter supply, reduced imports, and restocking by end-users. In the USA, HDG prices also strengthened, underpinned by steady demand from the construction and automotive sectors, as well as limited domestic supply and ongoing trade protection measures.
India’s HDG market followed the global trend, with prices rising on the back of robust infrastructure spending and increased activity in the automotive and appliance sectors.
Q1 2025 marked a turning point for the Indian HDG market, with prices stabilizing at $835/MT, a slight 0.15% increase over the previous quarter. This marginal uptick was supported by a gradual recovery in demand from the infrastructure and automotive sectors, as government spending picked up and new projects were launched.
Downstream industries began restocking in anticipation of improved business activity, and mills, having reduced inventories in prior quarters, were able to hold prices firmer. Export demand also showed early signs of improvement, with Indian HDG becoming more attractive to buyers in select markets. Overall, market sentiment turned cautiously optimistic, with expectations of further recovery in the coming quarters.
According to the PriceWatch, In Q2 2025, hot-dipped galvanised coil (HDG) prices in China declined from $627 per metric ton in Q1 to $600 per metric tonne in Q2, down 4.31% Q-o-Q. This downward movement is primarily attributed to weak domestic demand, sluggish export activity, and ongoing macroeconomic uncertainty.
The Chinese steel market has struggled with limited interest from foreign buyers and a depreciating yuan, which has reduced purchasing power across Asia. Although there was a brief uptick in prices before the Chinese New Year due to stockpiling and a recovery in raw material costs, the market failed to sustain this momentum post-holiday.
As a result, traders remained cautious, and prices continued to face downward pressure. Looking forward, gradual demand recovery is expected, especially in the construction sector, but global trade tensions and potential anti-dumping investigations may continue to restrict China’s export opportunities, keeping prices subdued.
The United States saw HDG coil prices increase of 1.55% in Q2. This rise is driven by a combination of trade restrictions, supply constraints, and strategic price hikes by domestic mills.
In February, U.S. producers such as U.S. Steel and Nucor implemented multiple rounds of price increases, citing higher scrap and raw material costs as well as the need to reestablish the pricing spread between hot-rolled and coated products.
Impending tariffs and supply limitations led to pre-emptive buying, even as end-user demand remained somewhat sluggish. The market’s bullish sentiment was further reinforced by these supply-side factors, allowing mills to push through higher prices despite some buyer resistance.
In the UK, HDG coil prices rose by 3.63% in Q2. The price increase, though moderate, occurred against a backdrop of weak demand and cautious buyer sentiment. Mills became more willing to lower prices to secure sales due to sluggish activity, but overall, the market saw only modest gains.
Uncertainties around trade measures, particularly the implementation of the Carbon Border Adjustment Mechanism (CBAM), led buyers to be more cautious, but domestic producers managed to achieve incremental price increases by limiting supply and leveraging regulatory changes.
According to PrichWatch, Indian HDG coil prices increased by 3.45% from approximately $811 per metric tonne to $839 per metric tonne in Q2 2025. The quarterly price rise is influenced by steady domestic demand growth, especially from the construction and infrastructure sectors, and firm raw material costs. Indian producers benefited from relatively stable local consumption and limited import competition due to global trade uncertainties.
The depreciation of the rupee also contributed to higher USD-denominated prices, making Indian exports more competitive but raising costs for domestic buyers in dollar terms. As a result, the Indian HDG market maintained a positive pricing trajectory through Q2 2025.
In the third quarter of 2025, the global market for Hot Dipped Galvanized coils remained under pressure, as demand has slowed in key consuming sectors and competitive imports have weighed on domestic pricing in many parts of the world. China saw only a modest decline, supported by infrastructure activity, while India saw the largest decline due to heavy competition from imports, and weak demand from manufacturing.
The USA and UK saw moderate prices of contracts, in line with conservative purchasing behavior and softened construction activity. Many HDG coil markets witnessed further modest price declines by September 2025, as cautious re-stocking, weak sentiment, and expectations of continued weakness approaching the final quarter of the year took hold.
China: Hot Dipped Galvanized Coil Export prices FOB Shanghai, China, Grade- SS400 2mm.
In China, the prices of hot dipped galvanized (HDG) coil decreased by 0.66% during Q3 2025, due to moderate demand pressure in key end-markets, such as construction, appliances, and automotive. While stabilizing government-led infrastructure activity eased the drop further, weakening export demand, steady production levels, and mills willing to offer competitive offers to protect market share, kept prices from moving higher.
According to Price-Watch, in China, Hot Dipped Galvanized (HDG) coil prices in September 2025 also eased by 0.7% as seasonal consumption tapered and downstream buyers took a cautious approach to purchase, with the potential for further price movement in the short term.
India: Hot dipped galvanized (HDG) coil Domestic Prices Ex-Mumbai, India, Grade- IS513 – 0.5mm.
In India, Hot dipped galvanized (HDG) coil price trend began on a downward trajectory in Q3 2025, with a quarter-over-quarter decline of 3.55%. This decline reflected some weakness in domestic consumption in the automotive, construction, and white goods sectors, as well as firm competition with Asian producers supplying material at a lower price.
The consistent production rates and supplies at major mills contributed to more than adequate available supply, which forced members to adjust prices downward in order to remain relevant in sales. According to Price-Watch, in India, Hot dipped galvanized (HDG) coil prices fell another 0.5% during September 2025 as buyers began to reduced order size and put off purchasing, as weak steel sentiment continued through steel buyers while expecting potentially greater discounts.
USA: Hot Dipped Galvanized Coil Domestic Prices Ex-Alabama, USA, Grade- A653M 1.0mm.
The hot dipped galvanized (HDG) coil price trend in the USA fell by 0.50% in Q3 2025, primarily due to muted demand from manufacturing and construction sectors combined with easing input costs. Imports from competitive origins pressured domestic prices, while service centers focused on destocking to manage inventory cycles.
Limited infrastructure activity and shortening mill lead times reflected the weaker buying environment. Hot dipped galvanized (HDG) coil prices in the USA slid by 0.7% in September 2025 as OEMs and distributors maintained conservative stocking levels, relying more on short-term purchase planning amid uncertain economic conditions.
United Kingdom: Hot Dipped Galvanized Coil Domestic Prices FD Sheffield, UK, Grade- DX51D+Z 1mm.
The hot dipped galvanized (HDG) coil price trend in the UK declined by 1.88% in Q3 2025, weighed down by sluggish demand from automotive and construction applications and increased import pressure from Europe. Domestic producers, facing high operating costs, were compelled to lower prices to stay competitive.
Export opportunities remained muted due to weaker global demand and currency fluctuations impacting trade competitiveness. Hot dipped galvanized (HDG) coil prices in the UK decreased by 0.4% in September 2025, as the market saw little improvement in consumption, and buyers continued cautious procurement to avoid excess stock ahead of year-end.
In the fourth quarter of 2025, the global Hot Dip Galvanized (HDG) steel market reflected uneven conditions, marked by contracting end-user orders, consistent zinc coating inputs, and selective trade barriers shaping regional paths. China’s segment grappled with capacity rationalization, excess coated stocks, and muted building material uptake, cultivating a subdued backdrop across the term.
Against this, USA and UK markets gained from duty shields and measured rolling schedules, while India navigated import competition and monsoonal aftereffects, producing fragmented results overall.
Hot Dipped Galvanised coil, DX51D 1mm, FOB Shanghai, China
According to Price-Watchâ„¢ , The price trend of Hot Dip Galvanized steel in China declined by 2.0% in Q4 2025, triggered by softening infrastructure tenders and lagged galvanized pipe consumption amid fiscal restraint measures. Coating line utilizations trailed HRC paces, fostering inventory gluts that squeezed secondary trader margins and prompted selective pauses. Distant sales encountered quota hurdles and pricing clashes from Vietnam alternatives, alongside zinc price steadiness curbing pass-through gains.
Fabricators in roofing and structural sectors trimmed schedules under profitability strains, blunting policy-driven lifts. Hot Dip Galvanized prices in China fell by -0.5% in December 2025 as material overhang lingered, with coaters channeling volumes to contracted volumes over merchant trades. Downstream assemblers deferred bulk amid audit seasons, thinning activity flows. Offshore bids stayed uncompetitive, locking in the tempered close without uplift cues.
Hot Dipped Galvanised coil IS513 – 0.5mm, Ex-Mumbai, India
The price trend of Hot Dip Galvanized steel in India declined by 3.5% in Q4 2025, fueled by tepid rural housing momentum and purlin demand alongside vessel clusters from China undercutting base tonnages. Seasonal project halts swelled depots, compelling concessions from primaries amid volatile rupee swings. Upstream slab import duties offered scant buffer against coated influxes, with alloy surcharges static versus softening sheets.
Merchant buyers adopted watchful stances on capex cues, amplifying flat product corrections. Hot Dip Galvanized prices in India fell by -0.9% in December 2025 with arrivals sustaining pressure beyond festive clearances. Agri-equipment and solar frame procurers held patterns low awaiting budget signals, muting turnover. Originators dialed back uncoils incrementally, though liquidity droughts sustained the easing spiral.
Hot Dipped galvanised coil, A653M 1.0mm, Ex-Alabama, USA
The price trend of Hot Dip Galvanized steel in the USA rose by 0.5% in Q4 2025, backed by quota enforcements and domestic slab security offsetting patchy solar panel and HVAC calloffs. Galvanizers extended slitting capacities post-weather delays, yet buyer thriftiness restrained escalations in commercial gauges. Ferrous scrap upticks furnished partial floors, countered by logistics efficiencies in Heartland hubs.
Localized protections warded volume threats, upholding gauge diversity steadiness. Hot Dip Galvanized prices in the USA rose by 1.7% in December 2025 with bookloads firming into spring slates and border flows contracting sharply. Coating facilities hiked minimums on gauge constraints, nudging distributors toward forward covers. Niche gains in ag structures and racking propelled the concluding firmness.
Hot Dip Galvanized (HDG) steel, DX51D+Z 1mm, FD Sheffield, UK
The price trend of Hot Dip Galvanized steel in the UK rose by 0.8% in Q4 2025, reinforced by EU slab allotments and transatlantic duty ripples, balancing lackluster cladding and fencing workloads. Regional coaters honed batch optimizations, lifting promptness premiums for AZ-coated variants amid sterling wavers. Contained power tariffs versus Asia peers sustained edges, while framework tenders trickled supportively.
Tonnage equilibria curbed undercutting bids, steering phased firmness. Hot Dip Galvanized prices in the UK rose by 1.2% in December 2025 as schedulers commanded slots with concise horizons. Fabrications conceded rises for continuity assurances over quota gambles. Feedstock equilibria and haulage normally fortified stance tenacity, cultivating the positive cap.
