INVENTORIES

12 Months Ended

Aug. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5. INVENTORIES

The majority of the Company's inventories are in the form of semi-finished and finished goods. Under the Company’s business

model, products are sold to external customers in various stages, from semi-finished billets through fabricated steel, leading these categories to be combined. As such, at August 31, 2021 and 2020, work in process inventories were not material. At August 31, 2021 and 2020, the Company's raw materials inventories were $286.1 million and $123.9 million, respectively.

Inventory write-downs were immaterial for 2021, 2020 and 2019.