SMM analysis projects iron ore prices to trend strong in September as steel mills complete maintenance and ramp up hot metal production, lifting ore demand. Rising coke prices are expected to add further cost support. Demand recovery is anticipated with the peak season, though overall upside may be capped by still-weak end-market conditions.
DCE iron ore futures closed higher with spot prices edging up across mainstream grades. Blast furnace operating rates dipped slightly week-on-week and daily hot metal output declined, but bottoming-out signals and improved market expectations lent support. Traders maintained steady shipments while steel mills held back on procurement, leaving spot trading sluggish.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Hot Dipped Galvanized Steel | North America | FOB | USD 1,661.00/MT | July 2026 |
| Hot Dipped Galvanized Steel | North America | FOB | USD 1,623.00/MT | June 2026 |
Stay updated with the latest Hot Dipped Galvanized Steel prices, historical data, and tailored regional analysis
Hot-dipped galvanized steel markets in Asia followed a firm-to-soft pattern during Q2’26. Chinese HDG values rose moderately in April and strengthened further during early May as higher HRC futures and zinc coating costs increased mill production expenses. The national average increased about ~2.2% month on month in May, although producers continued facing margin pressure because physical demand did not rise as quickly as substrate costs. Automotive manufacturing helped absorb coated sheet, supported by China’s production of ~2.582 million vehicles in May, including strong new-energy vehicle output. Export activity also supported the wider steel balance, but growing trade barriers for Chinese coated products increased the risk of material being redirected into regional markets. Momentum weakened during June as HRC values retreated, inventories remained elevated, and traders reduced offers amid subdued spot procurement. High steel availability and seasonal weakness in construction-related demand ultimately outweighed much of the earlier cost support.
Analyst Insight
According to Procurement Resource, hot-dipped galvanized steel conditions are expected to remain stable to slightly soft, as adequate supply and cautious construction demand offset continued support from automotive consumption and coating costs.
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Global hot dipped galvanized steel prices trended slightly downward during Q1’26 amid persistent supply-demand imbalance and cautious market activity. In China, seasonal Lunar New Year slowdowns reduced downstream purchasing from construction, appliance, and manufacturing sectors, while mills maintained relatively high operating rates, keeping supply pressure elevated. Post-holiday demand recovery remained slower than expected as buyers continued cautious procurement strategies amid weak market confidence. Export activity also faced pressure due to stricter steel export controls and trade-related policy changes, limiting overseas shipment momentum. Rising hot rolled coil and zinc feedstock costs offered some support and prevented sharper declines in galvanized steel values. Demand from automotive and new energy sectors remained comparatively resilient, although overall downstream consumption stayed moderate due to high inventories and weak transaction activity. Across global markets, manufacturers continued operating cautiously as macroeconomic uncertainty, soft construction activity, and inventory pressure restricted stronger price recovery during the quarter.
Analyst Insight
According to Procurement Resource, hot dipped galvanized steel prices are expected to remain weak but stable as feedstock costs continue supporting the market, although cautious downstream demand and oversupply conditions may limit stronger upward movement.
Hot-dipped galvanized steel is a type of steel that has been coated with a layer of zinc through immersion in a molten zinc bath. This process enhances the steel’s corrosion resistance, making it highly durable and suitable for outdoor and harsh environments. It is commonly used in construction, automotive, agriculture, and infrastructure applications. The zinc coating acts as a barrier against moisture and rust, significantly extending the lifespan of the steel. Hot-dipped galvanized steel is valued for its strength, longevity, and low maintenance requirements.
AK Steel Holding Corporation, Ansteel Group, ArcelorMittal S.A., China Baowu Steel Group Corp. Ltd., Gerdau, JFE Steel, Jiangsu Shagang Group Company Limited, Nippon Steel Corporation, Tata Steel
CurrencyUS$ (Data can also be provided in local currency)
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Hot-dipped galvanized steel is widely used in industrial applications where corrosion resistance and durability are critical. It is commonly employed in the construction of structural frameworks, bridges, guardrails, and industrial buildings. In the energy and utility sectors, it is used for transmission towers, pipelines, and cable trays. Manufacturing industries use it for HVAC systems, ductwork, and storage tanks. Its ability to withstand harsh environments makes it ideal for outdoor and heavy-duty applications, ensuring long service life and reduced maintenance needs.
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