This usually refers to steel which is coated with a thin layer of zinc, tin, paint or plastic in a continuous process prior to sale to traders, stockists and end users. It is more accurate to call it continuously coated steel to distinguish it from batch coated steel.
Most coated steel is in coil or sheet form, but some long products, such as wire, are galvanized. See also: color coat, galvanizing and tinplate. And for more detail click and see wikipedia entry.