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Inventories
 6 Months Ended
Jun. 30, 2016
Inventories  
Inventories

Note 4.  Inventories

 

Inventories are stated at lower of cost or market. Cost is determined using a weighted average cost method for scrap, and on a first-in, first-out, basis for other inventory. Inventory consisted of the following (in thousands):

 

 

 

 

June 30,

 

December 31,

 

 

 

2016

 

2015

 

Raw materials

 

$
415,324 

 

$
419,608 

 

Supplies

 
388,350 

 
396,349 

 

Work in progress

 
119,241 

 
90,486 

 

Finished goods

 
252,801 

 
242,947 

 

 

 

 

 

 

 

Total inventories

 

$
1,175,716 

 

$
1,149,390