Inventories, net

6 Months Ended

Feb. 28, 2013

Inventories, net consisted of the following (in thousands):



	February 28, 2013		August 31, 2012
Processed and unprocessed scrap metal	$	188,878	$	152,930
Semi-finished steel products (billets)	6,306		7,328
Finished goods	71,572		49,988
Supplies	38,698		36,746
Inventories, net	$	305,454	$	246,992

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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