Held aloft.

Processors and shippers of ferrous scrap waiting for the market to take a seasonal plunge did not see it in November.

Although some early December events (such as some lower auction pricing and an attempt by Nucor to lower prices on some of its steel products) have signaled a possible downward trend, processors are by no means convinced there will be a steep drop in either demand or pricing.

Even if domestic steel mills melt a little less scrap during the holiday season, two factors could offset the effects of such a slowdown.

On the demand side, overseas buyers represent mills that are not necessarily on the same holiday schedule.

And on the supply side, some of the North American winter season's first nasty weather finally began arriving in mid-December. The Great Lakes region has started experiencing its annual late fall/early winter snowfall, which could cause fits and starts in collection and scale traffic in that part of the country.

Hazardous driving conditions could also affect over-the-road delivery schedules as well as inland waterway traffic.

Although rail shipping should be the least bothered by weather conditions, most shippers agree that the rail network's tie-ups are such that they present a very unattractive alternative to highway or barge shipping.

Thus, pinched supply routes and healthy global demand may well keep ferrous scrap prices high, as supply struggles to meet demand in the all-important pricing equation.

(Additional news about ferrous scrap, including breaking news and consuming industry reports, is available online at www.RecyclingToday.com.)