----

| [X] | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d)OF      THE SECURITIES EXCHANGE ACT OF 1934 |
|-----|--------------------------------------------------------------------------------------------------|

| [  ] | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d)OF      THE SECURITIES EXCHANGE ACT OF 1934 |
|----------------|---------------------------------------------------------------------------------------------------|

| Delaware(State      or other jurisdiction ofincorporation      or organization)                          |   | 57-0426694(IRS      EmployerIdentification      Number) |
|----------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|
|                                                                                                     |   |                                                    |
| 2155      West Croft CircleSpartanburg,      South Carolina(Address      of principal executive offices) |   |  29302(Zip      code)                              |

|   |
|--------|

| (Registrant's      telephone number, including area code) |
|-----------------------------------------------------------|

| Larger      accelerated filer (  )                                                 | Accelerated      filer (X)                         |
|----------------------------------------------------------------------------------------------|---------------------------------------------------------|
| Non-accelerated      filer (  ) (Do      not check if a smaller reporting company) | Smaller      reportingcompany  (  ) |

Indicate by check mark whether the registrant is a shellcompany (as defined in Rule 12b-2 of the Act).

----

|   PART I.  |  FINANCIAL      INFORMATION                                                                                     |
|---------------------------|----------------------------------------------------------------------------------------------------------------------|
|                      |                                                                                                                 |
|  Item      1.        | Financial      Statements (unaudited)                                                                                |
|                      | Condensed      consolidated balance sheets - March 29, 2008 and December 29,      2007                               |
|                      | Condensed      consolidated statements of income - Three months ended March 29, 2008      andMarch      31, 2007     |
|                      | Condensed      consolidated statements of cash flows - Three months ended March 29, 2008      andMarch      31, 2007 |
|                      | Notes      to condensed consolidated financial statements - March 29,      2008                                      |
| Item      2.              | Management's      Discussion and Analysis of Financial Condition and Results of      Operations                      |
| Item      3.              | Quantitative      and Qualitative Disclosures About Market Risk                                                      |
| Item      4.              | Controls      and Procedures                                                                                         |
|                      |                                                                                                                 |

|  PART      II.     |  OTHER    INFORMATION                                       |
|---------------------------------------------|------------------------------------------------------------------|
|                                        |                                                             |
| Item      1A.                               | Risk      Factors                                                |
| Item      2.                                | Unregistered      Sales of Equity Securities and Use of Proceeds |
| Item      6.                                | Exhibits                                                         |
|                                        | Signatures      and Certifications                               |

----

| Item      1. FINANCIAL STATEMENTS                                                                                                        |   |                          |              |   |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|-------------------|--------|
| Synalloy      Corporation                                                                                                                |   |                          |              |   |
| Condensed      Consolidated Balance Sheets                                                                                               |   |        Mar      29, 2008 | Dec      29, 2007 |   |   |
|                                                                                                                                     |   |  (Unaudited)             | (Note)            |   |   |
| Assets                                                                                                                                   |   |                          |              |   |
| Current      assets                                                                                                                      |   |                          |              |   |
| Cash      and cash equivalents                                                                                                           |   | $                             | 25,936            |   |   | $ | 28,269 |   |
| Accounts      receivable, less allowance                                                                                                 |   |                          |              |   |
| for      doubtful accounts                                                                                                               |   |                          | 27,834,141        |   |   |   | 19,887,556 |   |
| Inventories                                                                                                                              |   |                          |              |   |
| Raw      materials                                                                                                                       |   |                          | 12,399,573        |   |   |   | 9,218,395 |   |
| Work-in-process                                                                                                                          |   |                          | 21,502,184        |   |   |   | 28,824,639 |   |
| Finished      goods                                                                                                                      |   |                          | 12,228,426        |   |   |   | 10,758,064 |   |
| Total      inventories                                                                                                                   |   |                          | 46,130,183        |   |   |   | 48,801,098 |   |
|                                                                                                                                     |   |                          |              |   |
| Deferred      income taxes                                                                                                               |   |                          | 2,424,949         |   |   |   | 2,284,000 |   |
| Prepaid      expenses and other current assets                                                                                           |   |                          | 321,808           |   |   |   | 433,250 |   |
| Total      current assets                                                                                                                |   |                          | 76,737,017        |   |   |   | 71,434,173 |   |
|                                                                                                                                     |   |                          |              |   |
| Cash      value of life insurance                                                                                                        |   |                          | 2,817,500         |   |   |   | 2,805,500 |   |
| Property,      plant & equipment, net of accumulated                                                                                 |   |                          |              |   |
| depreciation      of $41,103,000 and $40,374,000                                                                                         |   |                          | 21,261,580        |   |   |   | 20,858,606 |   |
| Deferred      charges and other assets                                                                                                   |   |                          | 1,510,457         |   |   |   | 1,523,021 |   |
|                                                                                                                                     |   |                          |              |   |
| Total      assets                                                                                                                        |   | $                             | 102,326,554       |   |   | $ | 96,621,300 |   |
|                                                                                                                                     |   |                          |              |   |
| Liabilities      and Shareholders' Equity                                                                                                |   |                          |              |   |
| Current      liabilities                                                                                                                 |   |                          |              |   |
| Current      portion of long-term debt                                                                                                   |   | $                             | 466,667           |   |   | $ | 466,667 |   |
| Accounts      payable                                                                                                                    |   |                          | 13,100,747        |   |   |   | 13,029,172 |   |
| Accrued      expenses                                                                                                                    |   |                          | 9,103,907         |   |   |   | 10,772,331 |   |
| Current      portion of environmental reserves                                                                                           |   |                          | 512,018           |   |   |   | 467,371 |   |
| Income      taxes payable                                                                                                                |   |                          | 749,841           |   |   |   | - |   |
| Total      current liabilities                                                                                                           |   |                          | 23,933,180        |   |   |   | 24,735,541 |   |
|                                                                                                                                     |   |                          |              |   |
| Long-term      debt                                                                                                                      |   |                          | 16,270,500        |   |   |   | 10,246,015 |   |
| Environmental      reserves                                                                                                              |   |                          | 580,000           |   |   |   | 580,000 |   |
| Deferred      compensation                                                                                                               |   |                          | 399,475           |   |   |   | 409,462 |   |
| Deferred      income taxes                                                                                                               |   |                          | 2,637,000         |   |   |   | 2,510,000 |   |
|                                                                                                                                     |   |                          |              |   |
| Shareholders'      equity                                                                                                                |   |                          |              |   |
| Common      stock, par value $1 per share - authorized                                                                                   |   |                          |              |   |
| 12,000,000      shares; issued 8,000,000 shares                                                                                          |   |                          | 8,000,000         |   |   |   | 8,000,000 |   |
| Capital      in excess of par value                                                                                                      |   |                          | 555,065           |   |   |   | 532,860 |   |
| Retained      earnings                                                                                                                   |   |                          | 65,409,689        |   |   |   | 65,113,597 |   |
| Less      cost of Common Stock in treasury:                                                                                              |   |                          |              |   |
| 1,757,259      and 1,762,695 shares                                                                                                      |   |                          | (15,458,355       | )      |   |   | (15,506,175 | ) |
| Total      shareholders' equity                                                                                                          |   |                          | 58,506,399        |   |   |   | 58,140,282 |   |
|                                                                                                                                     |   |                          |              |   |
| Total      liabilities and shareholders' equity                                                                                          |   | $                             | 102,326,554       |   |   | $ | 96,621,300 |   |
| Note:      The balance sheet at December 29, 2007 has been derived from the audited      consolidated financial statements at that date. |
| See      accompanying notes to condensed consolidated financial      statements.                                                         |   |                          |              |   |   |   |   |   |

----

| Synalloy      Corporation                                                        |   |                    |       |   |              |   |
|----------------------------------------------------------------------------------|--------|-------------------------|------------|--------|-------------------|--------|
| Condensed      Consolidated Statements of Income                                 |   |                    |       |   |
| (Unaudited)                                                                      |   |                    |       |   |              |   |
|                                                                             |   | Three      Months Ended |       |
|                                                                             |   | Mar      29, 2008       |       |   | Mar      31, 2007 |   |
|                                                                             |   |                    |       |   |              |   |
| Net      sales                                                                   |   | $                       | 50,974,023 |   |              | $      | 44,398,288 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Cost      of goods sold                                                          |   |                    | 44,674,826 |   |              |   | 35,578,911 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Gross      profit                                                                |   |                    | 6,299,197  |   |              |   | 8,819,377 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Selling,      general and administrative expense                                 |   |                    | 3,154,961  |   |              |   | 3,344,809 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Operating      income                                                            |   |                    | 3,144,236  |   |              |   | 5,474,568 |   |
| Other      (income) and expense                                                  |   |                    |       |   |              |   |   |   |
|   Interest      expense                                                |   |                    | 332,279    |   |              |   | 208,803 |   |
|   Other,      net                                                      |   |                    | (2,429     | )      |              |   | (1,029 | ) |
|                                                                             |   |                    |       |   |              |   |   |   |
| Income      before income taxes                                                  |   |                    | 2,814,386  |   |              |   | 5,266,794 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Provision      for income taxes                                                  |   |                    | 952,000    |   |              |   | 1,742,000 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Net      income                                                                  |   | $                       | 1,862,386  |   |              | $      | 3,524,794 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Net      income per common share:                                                |   |                    |       |   |              |   |   |   |
| Basic                                                                            |   | $                       | .30        |   |              | $      | .57 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Diluted                                                                          |   | $                       | .30        |   |              | $      | .56 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| Weighted      average shares outstanding:                                        |   |                    |       |   |              |   |   |   |
| Basic                                                                            |   |                    | 6,239,976  |   |              |   | 6,162,110 |   |
|   Dilutive      effect from stock                                      |   |                    |       |   |              |   |   |   |
|     options      and grants                                  |   |                    | 41,083     |   |              |   | 132,443 |   |
| Diluted                                                                          |   |                    | 6,281,059  |   |              |   | 6,294,553 |   |
|                                                                             |   |                    |       |   |              |   |   |   |
| See      accompanying notes to condensed consolidated financial      statements. |   |                    |       |   |              |   |   |   |

----

| Synalloy Corporation                                                              |   |                    |              |   |
|-----------------------------------------------------------------------------------|--------|-------------------------|-------------------|--------|
| Condensed      Consolidated Statements of Cash Flows                              |   |                    |              |
| (Unaudited)                                                                       |   | Three      Months Ended |
|                                                                              |   |  Mar      29, 2008 | Mar      31, 2007 |   |
| Operating      activities                                                         |   |                    |              |   |
|  Net      income                                                             |   | $                       | 1,862,386         |   |   | $ | 3,524,794 |   |
|  Adjustments      to reconcile net income to net cash                        |   |                    |              |   |
|     (used      in) provided by operating activities:          |   |                    |              |   |
|     Depreciation      expense                                 |   |                    | 777,406           |   |   |   | 767,533 |   |
|     Amortization      of deferred charges                     |   |                    | 12,564            |   |   |   | 13,731 |   |
|     Deferred      income taxes                                |   |                    | (5,898            | )      |   |   | (504,000 | ) |
|     Provision      for losses on accounts receivable          |   |                    | 149,407           |   |   |   | 117,467 |   |
|     Gain      on sale of property, plant and equipment        |   |                    | (1,200            | )      |   |   | - |   |
|     Cash      value of life insurance                         |   |                    | (12,000           | )      |   |   | (12,000 | ) |
|     Environmental      reserves                               |   |                    | 44,647            |   |   |   | (1,573 | ) |
|     Employee      stock option and grant compensation         |   |                    | 51,655            |   |   |   | 33,641 |   |
|     Changes      in operating assets and liabilities:         |   |                    |              |   |
|         Accounts      receivable          |   |                    | (8,095,992        | )      |   |   | (124,322 | ) |
|         Inventories                       |   |                    | 2,670,915         |   |   |   | 2,363,402 |   |
|         Other      assets and liabilities |   |                    | (96,933           | )      |   |   | (28,283 | ) |
|         Accounts      payable             |   |                    | 71,575            |   |   |   | (1,463,054 | ) |
|         Accrued      expenses             |   |                    | (1,668,424        | )      |   |   | 675,887 |   |
|         Income      taxes payable         |   |                    | 940,178           |   |   |   | 725,563 |   |
|                                                                              |   |                    |              |   |
| Net      cash (used in) provided by operating activities                          |   |                    | (3,299,714        | )      |   |   | 6,088,786 |   |
|                                                                              |   |                    |              |   |
| Investing      activities                                                         |   |                    |              |   |
|     Purchases      of property, plant and equipment           |   |                    | (1,180,380        | )      |   |   | (1,459,196 | ) |
|     Proceeds      from sale of property, plant and equipment  |   |                    | 1,200             |   |   |   | - |   |
| Net      cash used in investing activities                                        |   |                    | (1,179,180        | )      |   |   | (1,459,196 | ) |
|                                                                              |   |                    |              |   |
| Financing      activities                                                         |   |                    |              |   |
|     Net      proceeds from (payments on) long-term debt       |   |                    | 6,024,485         |   |   |   | (4,023,707 | ) |
|     Dividends      paid                                       |   |                    | (1,566,294        | )      |   |   | (927,189 | ) |
|     Capital      contributed                                  |   |                    | -                 |   |   |   | 20,340 |   |
|     Excess      tax benefits from Stock Grant Plan            |   |                    | 13,720            |   |   |   | - |   |
|     Proceeds      from exercised stock options                |   |                    | 4,650             |   |   |   | 281,923 |   |
| Net      cash provided by (used in) financing activities                          |   |                    | 4,476,561         |   |   |   | (4,648,633 | ) |
|                                                                              |   |                    |              |   |
|     Decrease      in cash and cash equivalents                |   |                    | (2,333            | )      |   |   | (19,043 | ) |
|     Cash      and cash equivalents at beginning of period     |   |                    | 28,269            |   |   |   | 21,413 |   |
|                                                                              |   |                    |              |   |
| Cash      and cash equivalents at end of period                                   |   | $                       | 25,936            |   |   | $ | 2,370 |   |
|                                                                              |   |                    |              |   |
| See      accompanying notes to condensed consolidated financial      statements.  |   |                    |

----

|                                               |   | Weighted |   |   |        |   |    | Weighted        |   |   |          |   |   |            |      |
|----------------------------------------------------|--------|----------|--------|--------|-------------|--------|---------|-----------------|--------|--------|---------------|--------|--------|-----------------|-----------|
|                                               |   | Average  |   |   |        |   |    | Average         |   |   | Intrinsic     |   |   |            |      |
|                                               |   | Exercise |   |   | Options     |   |    | Contractual     |   |   | Value      of |   |   | Options         |      |
|                                               |   | Price    |   |   | Outstanding |   |    | Term            |   |   | Options       |   |   | Available       |      |
|                                               |   |     |   |   |        |   |    | (in      years) |   |   |          |   |   |            |      |
| At      December 29, 2007                          |   | $        | 8.51   |   |        |   | 130,743 |            |   |   | 4.6           |   |   | $               | 1,198,000 |   |   |   | 207,100 |   |
|     Exercised                  |   | $        | 4.65   |   |        |   | (1,000  | )               |   |   |          |   |   | $               | 8,550     |   |   |   |   |   |
| At      March 29, 2008                             |   | $        | 8.54   |   |        |   | 129,743 |            |   |   | 4.4           |   |   | $               | 471,930   |   |   |   | 207,100 |   |
|                                               |   |     |   |   |        |   |    |            |   |   |          |   |   |            |      |   |   |   |   |   |
| Exercisable      options                           |   | $        | 8.12   |   |        |   | 100,289 |            |   |   | 3.7           |   |   | $               | 407,131   |   |   |   |   |   |
|                                               |   |     |   |   |        |   |    |            |   |   |          |   |   |            |      |   |   |   |   |   |
|                                               |   |     |   |   |        |   |    |            |   |   |          |   |   | Grant      Date |      |   |   |   |   |
| Options      expected to vest:                     |   |     |   |   |        |   |    |            |   |   |          |   |   | Fair      Value |      |   |   |   |   |
|   At      December 29, 2007              |   | $        | 9.96   |   |        |   | 43,454  |            |   |   | 7.1           |   |   | $               | 6.77      |   |   |   |   |   |
|     Vested      in the quarter |   | $        | 9.96   |   |        |   | (14,000 | )               |   |   |          |   |   |            |      |   |   |   |   |   |
|   At      March 29, 2008                 |   | $        | 9.96   |   |        |   | 29,454  |            |   |   | 6.9           |   |   | $               | 6.77      |   |   |   |   |   |

----

|                                  |   |   |   |   | Weighted        |   |
|---------------------------------------|--------|--------|--------|--------|-----------------|--------|
|                                  |   |   |   |   | Average         |   |
|                                  |   |   |   |   | Grant      Date |   |
|                                  |   | Shares |   |   | Fair      Value |   |
|                                  |   |   |   |   |            |   |
| Outstanding      at December 29, 2007 |   |   | 22,180 |   |            | $      | 25.00 |   |
|                                  |   |   |   |   |            |   |   |   |
| Granted                               |   |   | 11,480 |   |            | $      | 16.35 |   |
| Vested                                |   |   | (4,436 | )      |            | $      | 25.00 |   |
| Forfeited      or expired             |   |   | (3,040 | )      |            | $      | 21.24 |   |
|                                  |   |   |   |   |            |   |   |   |
| Outstanding      at March 29, 2008    |   |   | 26,184 |   |            | $      | 21.64 |   |

----

|                             |   | Three      Months Ended |       |
|----------------------------------|--------|-------------------------|------------|
|                             |   | Mar      29, 2008       |       |   | Mar      31, 2007 |   |
| Net      sales                   |   |                    |       |   |   |   |
| Specialty      Chemicals Segment |   | $                       | 14,052,000 |   |   | $ | 12,445,000 |   |
| Metals      Segment              |   |                    | 36,922,000 |   |   |   | 31,953,000 |   |
|                             |   | $                       | 50,974,000 |   |   | $ | 44,398,000 |   |
|                             |   |                    |       |   |   |   |   |   |
| Segment      income              |   |                    |       |   |   |   |   |   |
| Specialty      Chemicals Segment |   | $                       | 439,000    |   |   | $ | 607,000 |   |
| Metals      Segment              |   |                    | 3,449,000  |   |   |   | 5,620,000 |   |
|                             |   |                    | 3,888,000  |   |   |   | 6,227,000 |   |
| Unallocated      expenses        |   |                    |       |   |   |   |   |   |
| Corporate                        |   |                    | 744,000    |   |   |   | 752,000 |   |
| Interest      expense            |   |                    | 332,000    |   |   |   | 209,000 |   |
| Other      income                |   |                    | (2,000     | ) |   |   | (1,000 | ) |
|                             |   |                    |       |   |   |   |   |   |
| Income      before income taxes  |   | $                       | 2,814,000  |   |   | $ | 5,267,000 |   |

----

----

----

----

----

|        |   |                        |   | Number      of Shares |   |   | Aggregate      Exercise |   |
|-------------|--------|-----------------------------|--------|-----------------------|--------|--------|-------------------------|--------|
| Date Issued |   | Class of Purchasers         |   | Issued                |   |   | Price                   |   |
|        |   |                        |   |                  |   |   |                    |   |
| 2/19/2008   |   | Officers      and employees |   |                  | 1,000  |   |                    | $      | 4,650 |   |

|  Issuer      Purchases of Equity Securities                                                                      |   |               |   |   |               |              |   |                    |                |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------|-------------------|--------|-------------------------|---------------------|--------|
|                                                                                                                  |   |               |   |   |               | Total      Number |   |                    | Maximum      Number |   |
|                                                                                                                  |   |               |   |   |               |              |   | of      Shares          |                |   | of      Shares |   |
|                                                                                                                  |   |               |   |   |               |              |   | Purchased      as       |                |   | that      may yet be |   |
| Quarter                                                                                                               |   |               |   |   | Average            |              |   | Part      of Publically |                |   | Purchased      Under |   |
| Ended      2008                                                                                                       |   | Total      Number  |   |   | Price      Paid    |              |   | Announced               |                |   | the      Plans |   |
| for      the Period                                                                                                   |   | of      Shares (1) |   |   | per      Share (1) |              |   | Plans      or Programs  |                |   | or      Programs |   |
|                                                                                                                  |   |               |   |   |               |              |   |                    |                |   |   |   |
|                                                                                                                  |   |               | -      |   |               |              | -      |                    |                |   | - |   |   |   | - |   |
|                                                                                                                  |   |               |   |   |               |              |   |                    |                |   |   |   |   |   |   |   |
| (1)      This column reflects the surrender of previously owned shares of common      stock to pay the exercise price |   |
| in      connection with the exercise of stock options.                                                                |   |               |   |   |               |              |   |                    |                |

|  Item 6. |   | Exhibits                                                                                                       |
|---------------|--------|----------------------------------------------------------------------------------------------------------------|
|          |   | The      following exhibits are included herein:                                                               |
|          | 31     | Rule      13a-14(a)/15d-14(a) Certifications of Chief Executive Officer and Chief      Financial Officer  |
|          | 32     | Certifications      Pursuant to 18 U.S.C. Section 1350                                                    |
|          |   |                                                                                                           |

----

|                         |
|------------------------------|
| SYNALLOY      CORPORATION    |
|        (Registrant)     |
|                         |   |   |
|                         |   |   |
| Date:      May 9, 2008       | By: | /s/ Ronald H.      Braam                  |
|                         |   | Ronald      H. Braam |
|                         |   | President      and Chief Executive Officer |
|                         |   |   |
| Date:  May 9, 2008 | By: | /s/ Gregory M.      Bowie                    |
|                         |   | Gregory      M. Bowie |
|                         |   | Vice      President Finance and Chief Financial Officer |
|                         |   |   |

----