Quick Answer India needs approximately 400,000 metric tonnes of CRGO steel annually. Domestic production meets roughly 10–12%. The gap is bridged by imports — imports that are constrained by a certification system that has repeatedly created supply crises. As of May 2026, the domestic production gap will not close meaningfully until FY2028 at the earliest. Every transformer built in India until then depends on a supply chain that is structurally fragile. Table of Contents 1.

Introduction At S M Steels, we’ve noticed a significant decline in CRGO (Cold Rolled Grain Oriented) steel prices and demand across India as of September 2025. This downturn raises important questions for many businesses: Why is this happening now? Is this a temporary situation? What should we expect next? In this blog, we will analyze factual, up-to-date data and trends that contribute to the current market dip. Understanding these factors will empower you to make smarter pu