Polystyrene: The Extreme Contrast of Supply and Demand
H1 2025 saw Jiangsu Saibaolong Phase III go into operation, adding 360,000 tons of new capacity, totaling 7.28 million tons industry-wide, leading to oversupply. Output reached 2.363 million tons (+13.8% YoY), driven by new capacity release and high-load production of major plants, while downstream demand remained weak. Inventory was low in Jan; since Mar, depleted demand and US tariff hikes hindered exports, pushing inventory to 100,000 tons in Jun (+25.5% YoY) and extending the digestion cycle.