Note 5 - Inventories

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Inventory Disclosure [Text Block]

5.

    

Inventories

:

Inventories consisted of the following:

As of December 31,
(in thousands)	2018		2017
Unprocessed	$	306,953	$	225,187
Processed and finished		61,785		50,120
Totals	$	368,738	$	275,307

During

2018

and

2017,

the Company recorded

$8.4

million and

$2.7

million, respectively, of LIFO expense as a result of increased metals pricing during

2018

and

2017.

The LIFO expense decreased the Company’s inventory balance and increased its cost of materials sold.

If the FIFO method had been in use, inventories would have been

$3.1

million higher and

$5.3

million lower than reported at

December 31, 2018

and

2017,

respectively.