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Inventories
3 Months Ended
Mar. 31, 2017
Inventory Disclosure [Abstract]  
Inventories
Inventories
Inventories are comprised of the following: 
 
As of
December 31, 2016
 
As of
March 31, 2017
 
(Dollars in thousands)
Inventories:
 
 
 
Raw materials and supplies
$
54,469

 
$
51,037

Work in process
52,379

 
60,979

Finished goods
49,263

 
47,377

         Total
$
156,111

 
$
159,393


Due to decreased pricing in our graphite electrode product line, we recorded a lower of cost or market inventory adjustment of $11.5 million and $1.3 million in the three months ended March 31, 2016 and March 31, 2017, respectively.