Inventories, net (Details) (USD $) In Thousands, unless otherwise specified	May 31, 2012	Aug. 31, 2011
Inventories, net [Abstract]
Processed and unprocessed scrap metal	$ 217,506	$ 241,093
Semi-finished steel products (billets)	15,119	9,237
Finished goods	58,437	54,395
Supplies	36,995	30,395
Inventories, net	$ 328,057	$ 335,120

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Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale.

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Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).

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Carrying amount as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product.

+ References

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Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.

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Carrying amount as of the balance sheet date of products used directly or indirectly in the manufacturing or production process, which may or may not become part of the final product. May also include items used in the storage, presentation or transportation of physical goods.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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