Turning to the segments. Industrial Material sales were $260 million and operating income came in at $42 million, a $10 million increase over Q2 a year ago. The increase in operating income was largely due to higher year-over-year realized pricing of graphite electrodes and needle coke partially offset by lower volumes. Also adding to operating income that quarter was the carryover benefit of lower cost from inventory related to high Q4 2011 production rates and lower cost raw materials purchased last year.It is important to note that the lower cost inventory has largely been utilized and we anticipate that the impact of 2012 raw material increases and higher fixed-cost absorption will be more fully reflected in the second half of the year.
GrafTech International's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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