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7. INVENTORIES

12 Months Ended

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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The entire disclosure for inventories.

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