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INVENTORIES
12 Months Ended
Aug. 31, 2018
Inventory Disclosure [Abstract]  
INVENTORIES
NOTE 6. 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, 2018 and 2017, work in process inventories were not material. At August 31, 2018 and 2017, the Company's raw materials inventories were $177.7 million and $116.8 million, respectively.

Inventory write-downs were $1.4 million, $21.5 million, and $15.6 million for the years ended August 31, 2018, 2017, and 2016, respectively.