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7. INVENTORIES | 12 Months Ended
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Dec. 31, 2018
Inventories Abstract |
INVENTORIES |
| Consolidated
| 12/31/2018 |  | 12/31/2017
Finished goods | 1,362,981 |  | 1,308,802
Work in progress | 1,122,933 |  | 1,135,589
Raw materials | 1,560,499 |  | 1,050,588
Spare parts | 856,097 |  | 814,725
Iron ore | 258,612 |  | 278,041
Advances to suppliers | 36,192 |  | 12,514
(-) Provision for losses | (157,754) |  | (135,840)
| 5,039,560 |  | 4,464,419
The movements in the provision for inventory losses are as follows:
|  | Consolidated
|  | 12/31/2018 |  | 12/31/2017
Opening balance |  | (135,840) |  | (101,176)
(Estimated losses) / Reversal of inventories with low turnover and obsolescence | (21,914) |  | (34,664)
Closing balance |  | (157,754) |  | (135,840)

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