----

| [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)                         |

| (864) 585-3605(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 reporting company  (  ) |

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

----

|  Item 1. | Financial Statements (unaudited)                                                                           |
|---------------|------------------------------------------------------------------------------------------------------------|
|          | Condensed consolidated balance sheets - July 4, 2009 and January 3, 2009                                   |
|          | Condensed consolidated statements of operations - Three and six months ended July 4, 2009 andJune 28, 2008 |
|          | Condensed consolidated statements of cash flows - Six months ended July 4, 2009 andJune 28, 2008           |
|          | Notes to condensed consolidated financial statements - July 4, 2009                                        |
| 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                                                                                    |
|          |                                                                                                       |

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|---------|-------------------------------------------------------------|
| Item 4. | Submission of Matters to a Vote of Security Holders         |
| Item 6. | Exhibits                                                    |
|    | Signatures and Certifications                               |

| PART I                                                                                                                                         |   |        |        |   |        |   |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|-------------|--------|-------------|--------|
| Item 1. FINANCIAL STATEMENTS                                                                                                                   |   |        |        |   |        |   |
| Synalloy Corporation                                                                                                                           |   |        |        |   |        |   |
| Condensed Consolidated Balance Sheets                                                                                                          |   | Jul 4, 2009 |        |   | Jan 3, 2009 |   |
|                                                                                                                                           |   | (Unaudited) |        |   | (Note)      |   |
| Assets                                                                                                                                         |   |        |        |   |        |   |
| Current assets                                                                                                                                 |   |        |        |   |        |   |
| Cash and cash equivalents                                                                                                                      |   | $           | 3,903,028   |   |        | $      | 97,215 |   |
| Accounts receivable, less allowance                                                                                                            |   |        |        |   |        |   |   |   |
| for doubtful accounts                                                                                                                          |   |        | 13,629,793  |   |        |   | 21,201,589 |   |
| Inventories                                                                                                                                    |   |        |        |   |        |   |   |   |
| Raw materials                                                                                                                                  |   |        | 7,776,021   |   |        |   | 13,678,997 |   |
| Work-in-process                                                                                                                                |   |        | 8,585,385   |   |        |   | 16,755,349 |   |
| Finished goods                                                                                                                                 |   |        | 11,221,477  |   |        |   | 12,476,926 |   |
| Total inventories                                                                                                                              |   |        | 27,582,883  |   |        |   | 42,911,272 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| Income taxes receivable                                                                                                                        |   |        | 344,885     |   |        |   | 1,187,866 |   |
| Deferred income taxes                                                                                                                          |   |        | 2,342,770   |   |        |   | 2,265,949 |   |
| Prepaid expenses and other current assets                                                                                                      |   |        | 456,243     |   |        |   | 231,975 |   |
| Total current assets                                                                                                                           |   |        | 48,259,602  |   |        |   | 67,895,866 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| Cash value of life insurance                                                                                                                   |   |        | 2,899,224   |   |        |   | 2,867,975 |   |
| Property, plant & equipment, net of accumulated                                                                                            |   |        |        |   |        |   |   |   |
| depreciation of $44,293,107 and $43,022,566                                                                                                    |   |        | 21,351,964  |   |        |   | 22,129,571 |   |
| Goodwill                                                                                                                                       |   |        | 1,354,730   |   |        |   | 1,354,730 |   |
| Deferred charges, net                                                                                                                          |   |        | 86,907      |   |        |   | 118,035 |   |
| Total assets                                                                                                                                   |   | $           | 73,952,427  |   |        | $      | 94,366,177 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| Liabilities and Shareholders' Equity                                                                                                           |   |        |        |   |        |   |   |   |
| Current liabilities                                                                                                                            |   |        |        |   |        |   |   |   |
| Current portion of long-term debt                                                                                                              |   | $           | -           |   |        | $      | 466,667 |   |
| Accounts payable                                                                                                                               |   |        | 3,964,271   |   |        |   | 9,294,052 |   |
| Accrued expenses                                                                                                                               |   |        | 2,430,312   |   |        |   | 6,722,397 |   |
| Current portion of environmental reserves                                                                                                      |   |        | 608,062     |   |        |   | 554,000 |   |
| Total current liabilities                                                                                                                      |   |        | 7,002,645   |   |        |   | 17,037,116 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| Long-term debt                                                                                                                                 |   |        | -           |   |        |   | 9,958,981 |   |
| Environmental reserves                                                                                                                         |   |        | 810,000     |   |        |   | 810,000 |   |
| Deferred compensation                                                                                                                          |   |        | 375,037     |   |        |   | 369,512 |   |
| Deferred income taxes                                                                                                                          |   |        | 3,311,000   |   |        |   | 3,324,000 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| 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                                                                                                                 |   |        | 769,098     |   |        |   | 752,765 |   |
| Retained earnings                                                                                                                              |   |        | 68,933,329  |   |        |   | 69,529,995 |   |
| Less cost of Common Stock in treasury:                                                                                                         |   |        |        |   |        |   |   |   |
| 1,733,424 and 1,752,466 shares                                                                                                                 |   |        | (15,248,682 | )      |        |   | (15,416,192 | ) |
| Total shareholders' equity                                                                                                                     |   |        | 62,453,745  |   |        |   | 62,866,568 |   |
| Total liabilities and shareholders' equity                                                                                                     |   | $           | 73,952,427  |   |        | $      | 94,366,177 |   |
| Note: The balance sheet at January 3, 2009 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 Operations                        |   |               |       |   |             |   |       |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |
| (Unaudited)                                                            |   | Three Months Ended |       |   | Six Months Ended |   |
|                                                                   |   | Jul 4, 2009        |       |   | Jun 28, 2008     |   |       | Jul 4, 2009 |   |   | Jun 28, 2008 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |
| Net sales                                                              |   | $                  | 25,403,284 |   |             | $      | 52,921,660 |        |   | $      | 60,925,057   |   |   | $ | 103,895,683 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Cost of goods sold                                                     |   |               | 23,089,277 |   |             |   | 44,490,027 |        |   |   | 55,668,165   |   |   |   | 89,164,853 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Gross profit                                                           |   |               | 2,314,007  |   |             |   | 8,431,633  |        |   |   | 5,256,892    |   |   |   | 14,730,830 |   |
| Selling, general and administrative                                    |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
|      expense                                  |   |               | 2,495,653  |   |             |   | 3,265,088  |        |   |   | 5,089,830    |   |   |   | 6,420,049 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Operating (loss) income                                                |   |               | (181,646   | )      |             |   | 5,166,545  |        |   |   | 167,062      |   |   |   | 8,310,781 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Other (income) and expense                                             |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
|   Interest expense                                           |   |               | 89,437     |   |             |   | 161,277    |        |   |   | 194,472      |   |   |   | 353,556 |   |
|   Change in fair value of interest                           |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
|        rate swap                    |   |               | (28,000    | )      |             |   | (140,000   | )           |   |   | (77,000      | )      |   |   | - |   |
|   Other, net                                                 |   |               | (2,489     | )      |             |   | (2,153     | )           |   |   | (3,561       | )      |   |   | (4,582 | ) |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| (Loss) income before income taxes                                      |   |               | (240,594   | )      |             |   | 5,147,421  |        |   |   | 53,151       |   |   |   | 7,961,807 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| (Benefit from) provision for income taxes                              |   |               | (82,000    | )      |             |   | 1,756,000  |        |   |   | 18,000       |   |   |   | 2,708,000 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Net (loss) income                                                      |   | $                  | (158,594   | )      |             | $      | 3,391,421  |        |   | $      | 35,151       |   |   | $ | 5,253,807 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Net (loss) income per common share:                                    |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Basic                                                                  |   | $                  | (.03       | )      |             | $      | .54        |        |   | $      | .01          |   |   | $ | .84 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Diluted                                                                |   | $                  | (.03       | )      |             | $      | .54        |        |   | $      | .01          |   |   | $ | .84 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| Weighted average shares outstanding:                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |
| Basic                                                                  |   |               | 6,262,959  |   |             |   | 6,246,165  |        |   |   | 6,257,035    |   |   |   | 6,243,070 |   |
|    Dilutive effect from stock options and grants        |   |               | -          |   |             |   | 48,962     |        |   |   | 4,366        |   |   |   | 44,853 |   |
| Diluted                                                                |   |               | 6,262,959  |   |             |   | 6,295,127  |        |   |   | 6,261,401    |   |   |   | 6,287,923 |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
|                                                                   |   |               |       |   |             |   |       |        |   |   |         |   |   |   |   |   |
| See accompanying notes to condensed consolidated financial statements. |   |               |       |   |             |   |       |        |   |   |         |   |   |

----

| Synalloy Corporation                                                         |   |             |        |   |         |   |
|------------------------------------------------------------------------------|--------|------------------|-------------|--------|--------------|--------|
| Condensed Consolidated Statements of Cash Flows                              |   |             |        |   |
| (Unaudited)                                                                  |   | Six Months Ended |        |
|                                                                         |   | Jul 4, 2009      |        |   | Jun 28, 2008 |   |
| Operating activities                                                         |   |             |        |   |         |   |
|  Net income                                                             |   | $                | 35,151      |   |         | $      | 5,253,807 |   |
|  Adjustments to reconcile net income to net cash                        |   |             |        |   |         |   |   |   |
|     provided by (used in) operating activities:          |   |             |        |   |         |   |   |   |
|     Depreciation expense                                 |   |             | 1,661,375   |   |         |   | 1,564,723 |   |
|     Amortization of deferred charges                     |   |             | 31,128      |   |         |   | 25,128 |   |
|     Deferred income taxes                                |   |             | (89,821     | )      |         |   | (149,949 | ) |
|     Provision for losses on accounts receivable          |   |             | 182,933     |   |         |   | 453,066 |   |
|     Gain on sale of property, plant and equipment        |   |             | (13,755     | )      |         |   | (1,200 | ) |
|     Cash value of life insurance                         |   |             | (31,249     | )      |         |   | (27,522 | ) |
|     Environmental reserves                               |   |             | 54,062      |   |         |   | 28,264 |   |
|     Issuance of treasury stock for director fees         |   |             | 75,010      |   |         |   | 74,970 |   |
|     Employee stock option and grant compensation         |   |             | 106,918     |   |         |   | 107,458 |   |
|     Change in fair value of interest rate swap           |   |             | (77,000     | )      |         |   | - |   |
|     Changes in operating assets and liabilities:         |   |             |        |   |         |   |   |   |
|         Accounts receivable          |   |             | 7,388,863   |   |         |   | (7,090,187 | ) |
|         Inventories                  |   |             | 14,238,383  |   |         |   | 1,455,164 |   |
|         Other assets and liabilities |   |             | (220,656    | )      |         |   | (72,266 | ) |
|         Accounts payable             |   |             | (5,329,781  | )      |         |   | 6,500,886 |   |
|         Accrued expenses             |   |             | (4,215,085  | )      |         |   | (1,890,364 | ) |
|         Income taxes payable         |   |             | 844,895     |   |         |   | 961,425 |   |
|                                                                         |   |             |        |   |         |   |   |   |
| Net cash provided by operating activities                                    |   |             | 14,641,371  |   |         |   | 7,193,403 |   |
|                                                                         |   |             |        |   |         |   |   |   |
| Investing activities                                                         |   |             |        |   |         |   |   |   |
|     Purchases of property, plant and equipment           |   |             | (1,242,001  | )      |         |   | (2,129,388 | ) |
|     Proceeds from sale of assets                         |   |             | 1,461,994   |   |         |   | 1,200 |   |
|                                                                         |   |             |        |   |         |   |   |   |
| Net cash provided by (used in) investing activities                          |   |             | 219,993     |   |         |   | (2,128,188 | ) |
|                                                                         |   |             |        |   |         |   |   |   |
| Financing activities                                                         |   |             |        |   |         |   |   |   |
|     Payments on revolving line of credit, net            |   |             | (4,942,316  | )      |         |   | (3,288,527 | ) |
|     Payments on term loan                                |   |             | (5,483,332  | )      |         |   | (233,333 | ) |
|     Dividends paid                                       |   |             | (631,817    | )      |         |   | (1,566,294 | ) |
|     Excess tax benefits from Stock Grant Plan            |   |             | 1,914       |   |         |   | 13,720 |   |
|     Proceeds from exercised stock options                |   |             | -           |   |         |   | 4,618 |   |
|                                                                         |   |             |        |   |         |   |   |   |
| Net cash used in financing activities                                        |   |             | (11,055,551 | )      |         |   | (5,069,816 | ) |
|                                                                         |   |             |        |   |         |   |   |   |
|     Increase (decrease) in cash and cash equivalents     |   |             | 3,805,813   |   |         |   | (4,601 | ) |
|     Cash and cash equivalents at beginning of period     |   |             | 97,215      |   |         |   | 28,269 |   |
|                                                                         |   |             |        |   |         |   |   |   |
| Cash and cash equivalents at end of period                                   |   | $                | 3,903,028   |   |         | $      | 23,668 |   |
|                                                                         |   |             |        |   |         |   |   |   |
| See accompanying notes to condensed consolidated financial statements.       |   |             |        |   |         |   |   |   |

----

----

|                           |   |   |   |   | Weighted   |   |
|--------------------------------|--------|--------|--------|--------|------------|--------|
|                           |   |   |   |   | Average    |   |
|                           |   |   |   |   | Grant Date |   |
|                           |   | Shares |   |   | Fair Value |   |
|                           |   |   |   |   |       |   |
| Outstanding at January 3, 2009 |   |   | 25,244 |   |       | $      | 21.62 |   |
|                           |   |   |   |   |       |   |   |   |
| Granted                        |   |   | 5,500  |   |       | $      | 5.22 |   |
| Vested                         |   |   | (6,382 | )      |       | $      | 21.97 |   |
|                           |   |   |   |   |       |   |   |   |
| Outstanding at July 4, 2009    |   |   | 24,362 |   |       | $      | 17.83 |   |

----

|                              |   | THREE MONTHS ENDED |       |   | SIX MONTHS ENDED |    |
|-----------------------------------|--------|--------------------|------------|--------|------------------|---------|
|                              |   | Jul 4, 2009        |       |   | Jun 28, 2008     |    |   | Jul 4, 2009 |   |   | Jun 28, 2008 |   |
|                              |   |               |       |   |             |    |   |   |   |   |   |   |
| Net sales                         |   |               |       |   |             |    |   |   |   |   |   |   |
| Specialty Chemicals Segment       |   | $                  | 11,268,000 |   |             | $       | 15,278,000 |   |   | $ | 24,163,000 |   |   | $ | 29,329,000 |   |
| Metals Segment                    |   |               | 14,135,000 |   |             |    | 37,644,000 |   |   |   | 36,762,000 |   |   |   | 74,567,000 |   |
|                              |   | $                  | 25,403,000 |   |             | $       | 52,922,000 |   |   | $ | 60,925,000 |   |   | $ | 103,896,000 |   |
| Operating income (loss)           |   |               |       |   |             |    |   |   |   |   |   |   |   |   |   |   |
| Specialty Chemicals Segment       |   | $                  | 597,000    |   |             | $       | 736,000 |   |   | $ | 865,000 |   |   | $ | 1,175,000 |   |
| Metals Segment                    |   |               | (108,000   | )      |             |    | 5,215,000 |   |   |   | 666,000 |   |   |   | 8,664,000 |   |
|                              |   |               | 489,000    |   |             |    | 5,951,000 |   |   |   | 1,531,000 |   |   |   | 9,839,000 |   |
| Unallocated expenses              |   |               |       |   |             |    |   |   |   |   |   |   |   |   |   |   |
| Corporate                         |   |               | 671,000    |   |             |    | 785,000 |   |   |   | 1,364,000 |   |   |   | 1,528,000 |   |
| Interest and debt expense         |   |               | 89,000     |   |             |    | 161,000 |   |   |   | 194,000 |   |   |   | 354,000 |   |
| Change in fair value of interest  |   |               |       |   |             |    |   |   |   |   |   |   |   |   |   |   |
|     rate swap |   |               | (28,000    | )      |             |    | (140,000 | ) |   |   | (77,000 | ) |   |   | - |   |
| Other income                      |   |               | (2,000     | )      |             |    | (2,000 | ) |   |   | (3,000 | ) |   |   | (5,000 | ) |
|                              |   |               |       |   |             |    |   |   |   |   |   |   |   |   |   |   |
| (Loss) income before income taxes |   |  $            | (241,000   | )      |             |  $ | 5,147,000 |   |   |  $ | 53,000 |   |   |  $ | 7,962,000 |   |

----

----

----

----

----

|        |   |                      |   |  Number of Shares |   |              |
|-------------|--------|---------------------------|--------|------------------------|--------|-------------------|
| Date Issued |   | Class of Purchasers       |   |  Issued           |   | Consideration     |
| 4/24/2009   |   | Non-Employee Directors(1) |   | 12,660                 |   | Director Services |

| (1)   | Each non-employee director was given the opportunity and has elected to receive $15,000 of the retainer in restricted stock for 2009-10 year which equals 2,532 shares per director for a total of 12,660 shares. The number of restricted shares issued is determined by the average of the high and low stock priced on the day prior to the Annual Meeting of Shareholders.The shares granted to the non-employee directors are not registered under the Securities Act of 1933 and are subject to forfeiture in whole or in part upon the occurrence of certain events. The number of shares in the above chart represents the aggregate number of shares directors are entitled to receive at the end of the Company’s second quarter and is prorated based on the number of regular quarterly board meetings attended during each director’s elected term. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| A.     | The Annual Meeting of Shareholders was held April 30, 2009 at the Company's corporate headquarters, Spartanburg, South Carolina. |
|--------|----------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                             |
| B.     | The following individuals were elected as directors at the Annual Meeting:                                                       |
|   |                                                                                                                             |   |   |
|   | Name                                                                                                                             | Votes For | Votes Withheld |
|   | Sibyl N. Fishburn                                                                                                                | 5,769,156 | 65,796 |
|   | James G. Lane, Jr.                                                                                                               | 5,757,424 | 77,528 |
|   | Ronald H. Braam                                                                                                                  | 5,775,798 | 59,154 |
|   | Craig C. Bram                                                                                                                    | 5,782,562 | 52,390 |
|   | Carroll D. Vinson                                                                                                                | 5,406,752 | 428,200 |
|   | Murray H. Wright                                                                                                                 | 5,775,798 | 59,154 |

|  Item 6. |   | Exhibits                                                                                                  |
|---------------|--------|-----------------------------------------------------------------------------------------------------------|
|          |   | The following exhibits are included herein:                                                               |
|          | 31.1   | Rule 13a-14(a)/15d-14(a) Certifications of Chief Executive Officer                                   |
|          | 31.2   | Rule 13a-14(a)/15d-14(a) Certifications of Chief Financial Officer and Principal Accounting Officer  |
|          | 32     | Certifications Pursuant to 18 U.S.C. Section 1350                                                         |

----

|                           |                 |
|--------------------------------|----------------------|
|                           | SYNALLOY CORPORATION |
|                           |                 | (Registrant) |
|                           |                 |   |
|                           |                 |   |
| Date: July 31, 2009            | By:                  | /s/ Ronald H. Braam                  |
|                           |                 | Ronald H. Braam |
|                           |                 | President and Chief Executive Officer |
|                           |                 |   |
| Date:  July 31, 2009 | By:                  | /s/ Gregory M. Bowie                    |
|                           |                 | Gregory M. Bowie |
|                           |                 | Chief Financial Officer and Principal Accounting Officer |
|                           |                 |   |

----