Inventories

12 Months Ended

Dec. 31, 2021

Classes Of Inventories [Abstract]

Inventories

13. INVENTORIES

	As of December 31,
	2021		2020
	US$’000		US$’000
Raw materials and supplies		23,928		23,490
Work in progress		24,791		17,992
Finished goods		80,078		54,889
Total inventories at the lower of cost and net    realizable value		128,797		96,371

Inventories recognized as an expense during the year ended December 31, 2021, 2020 and 2019 amounted to $441,371, $279,728 and $313,695 respectively.

For the year ended December 31, 2021, our Company recognized allowance for inventory of $14,136 as an expense in cost of sales for inventories carried at net realizable value. For the year ended December 31, 2020 and 2019, the amount of $240 and $322 were credited to cost of sales when the circumstances, such as copper price fluctuation, that caused the net realizable value of inventory to be lower than its cost no longer existed.