European Union threatens to slap trade sanctions on 316 U.S.-made products worth $2.4 billion in a row triggered by U.S. steel tariffs. U.S. Trade Representative Robert Zoellick says such a move could rupture world trade. The EU and other countries (including Canada) already have thrown up protective barriers in their markets to steel that might have been shipped into the U.S. Several nations also are demanding that Washington pay compensation to affected countries for the 30% steel duties.

NOVA Chemicals Corp. has declared temporary force majeure on supply of expandable polystyrene (EPS), solid polystyrene (SPS) and styrene monomer produced in Europe. The company has been forced to take the action due to failure of some U.S. and European suppliers to provide the styrene monomer feedstock necessary to run its polymer facilities and to supply merchant customers of styrene.

Paint makers are optimistic that the market is improving, but first quarter sales were flat when compared to year-ago levels. With commercial and industrial demand still down, analysts at Thomson/First Call say 2002 paint sales will be even with 2001 volume. The paint companies, however, are projecting a year-over-year gain because they expect a solid increase in demand for architectural coatings.

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Lyondell Chemical Co. is consolidating management, marketing and sales with 41%-owned Equistar Chemicals (owned by Occidental Petroleum Corp. and Millennium Chemicals Inc.) Lyondell of Houston is one of the nation's largest petrochemical companies and, through its majority interest in Lyondell-Citgo Refining, is one of the country's largest oil refiners. Lynondell also is the third-largest methanol producer in the U.S. through its 75% interest in Lyondell Methanol Co.

Bayer is forecasting a demand recovery for polyurethanes in 2002, so it will continue to push for higher prices. Demand for polyurethanes fell about 1% last year, and price increase attempts so far this year have been unsuccessful.

How safe is your purchasing data? A survey of 538 U.S. corporations and government agencies, conducted by the Computer Security Institute and the San Francisco FBI's Computer Intrusion Squad, finds that 85% of respondents detected computer security breaches within the last 12 months and 64% acknowledge financial losses due to computer breaches.