Inventories	12 Months Ended
Aug. 31, 2012
Inventory Disclosure [Abstract]
Inventories	NOTE 5. INVENTORIES Inventories are stated at the lower of cost or market. Inventory cost for most domestic inventories is determined by the LIFO method. LIFO inventory reserves were $261.8 million and $307.3 million at August 31, 2012 and 2011, respectively. Inventory cost for international inventories and the remaining domestic inventories are determined by the FIFO method. At August 31, 2012 and 2011, 55% and 49%, respectively, of total inventories were valued at LIFO. The remainder of inventories, valued at FIFO, consisted mainly of material dedicated to CMC Zawiercie S.A. (“CMCZ”) and certain marketing and distribution businesses. The majority of the Company’s inventories are in the form of finished goods with minimal work in process. At August 31, 2012 and 2011, $68.0 million and $107.7 million, respectively, were in raw materials. During 2012 and 2010, inventory in certain LIFO pools was reduced. This reduction resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years as compared with the cost of current purchases. The effect for 2012 increased net earnings by $1.0 million. During 2011, there was no liquidation of LIFO inventories. The effect for 2010 decreased net loss by $33.9 million.

Inventories

12 Months Ended

Aug. 31, 2012

NOTE 5. INVENTORIES

Inventories are stated at the lower of cost or market. Inventory cost for most domestic inventories is determined by the LIFO method. LIFO inventory reserves were $261.8 million and $307.3 million at August 31, 2012 and 2011, respectively. Inventory cost for international inventories and the remaining domestic inventories are determined by the FIFO method.

At August 31, 2012 and 2011, 55% and 49%, respectively, of total inventories were valued at LIFO. The remainder of inventories, valued at FIFO, consisted mainly of material dedicated to CMC Zawiercie S.A. (“CMCZ”) and certain marketing and distribution businesses.

The majority of the Company’s inventories are in the form of finished goods with minimal work in process. At August 31, 2012 and 2011, $68.0 million and $107.7 million, respectively, were in raw materials.

During 2012 and 2010, inventory in certain LIFO pools was reduced. This reduction resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years as compared with the cost of current purchases. The effect for 2012 increased net earnings by $1.0 million. During 2011, there was no liquidation of LIFO inventories. The effect for 2010 decreased net loss by $33.9 million.