----

| [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 - October 3, 2009 and January 3, 2009                                         |
|          | Condensed consolidated statements of operations - Three and nine months ended October 3, 2009 andSeptember 27, 2008 |
|          | Condensed consolidated statements of cash flows - Nine months ended October 3, 2009 andSeptember 27, 2008           |
|          | Notes to condensed consolidated financial statements - October 3, 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 6. | Exhibits                      |
|---------|-------------------------------|
|    | Signatures and Certifications |

----

| PART I                                                                                                                                         |   |        |        |   |        |   |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|-------------|--------|-------------|--------|
| Item 1. FINANCIAL STATEMENTS                                                                                                                   |   |        |        |   |        |   |
| Synalloy Corporation                                                                                                                           |   |        |        |   |        |   |
| Condensed Consolidated Balance Sheets                                                                                                     |   | Oct 3, 2009 |        |   | Jan 3, 2009 |   |
|                                                                                                                                           |   | (Unaudited) |        |   | (Note)      |   |
| Assets                                                                                                                                         |   |        |        |   |        |   |
| Current assets                                                                                                                                 |   |        |        |   |        |   |
| Cash and cash equivalents                                                                                                                      |   | $           | 13,657,126  |   |        | $      | 97,215 |   |
| Accounts receivable, less allowance for doubtful accounts                                                                                      |   |        | 13,307,919  |   |        |   | 17,310,419 |   |
| Inventories                                                                                                                                    |   |        |        |   |        |   |   |   |
| Raw materials                                                                                                                                  |   |        | 6,180,158   |   |        |   | 11,508,920 |   |
| Work-in-process                                                                                                                                |   |        | 9,931,792   |   |        |   | 16,755,349 |   |
| Finished goods                                                                                                                                 |   |        | 8,581,161   |   |        |   | 10,572,756 |   |
| Total inventories                                                                                                                              |   |        | 24,693,111  |   |        |   | 38,837,025 |   |
| Income taxes receivable                                                                                                                        |   |        | -           |   |        |   | 1,187,866 |   |
| Deferred income taxes                                                                                                                          |   |        | 2,287,000   |   |        |   | 2,265,949 |   |
| Prepaid expenses and other current assets                                                                                                      |   |        | 453,203     |   |        |   | 215,157 |   |
| Current assets of discontinued operations                                                                                                      |   |        | -           |   |        |   | 7,982,235 |   |
|       Total current assets                                                                                       |   |        | 54,398,359  |   |        |   | 67,895,866 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| Cash value of life insurance                                                                                                                   |   |        | 2,911,224   |   |        |   | 2,867,975 |   |
| Property, plant & equipment, net of accumulated                                                                                            |   |        |        |   |        |   |   |   |
| depreciation of $36,377,282 and $35,221,563                                                                                                    |   |        | 15,667,310  |   |        |   | 15,177,584 |   |
| Goodwill                                                                                                                                       |   |        | 2,354,730   |   |        |   | 1,354,730 |   |
| Deferred charges, net                                                                                                                          |   |        | 20,093      |   |        |   | 70,535 |   |
| Assets of discontinued operations                                                                                                              |   |        | -           |   |        |   | 6,999,487 |   |
| Total assets                                                                                                                                   |   | $           | 75,351,716  |   |        | $      | 94,366,177 |   |
|                                                                                                                                           |   |        |        |   |        |   |   |   |
| Liabilities and Shareholders' Equity                                                                                                           |   |        |        |   |        |   |   |   |
| Current liabilities                                                                                                                            |   |        |        |   |        |   |   |   |
| Current portion of long-term debt                                                                                                              |   | $           | -           |   |        | $      | 466,667 |   |
| Accounts payable                                                                                                                               |   |        | 3,879,408   |   |        |   | 8,176,181 |   |
| Accrued expenses                                                                                                                               |   |        | 3,558,807   |   |        |   | 6,259,334 |   |
| Current portion of environmental reserves                                                                                                      |   |        | 730,726     |   |        |   | 554,000 |   |
| Income taxes payable                                                                                                                           |   |        | 1,707,307   |   |        |   | - |   |
| Current liabilities of discontinued operations                                                                                                 |   |        | -           |   |        |   | 3,222,934 |   |
|       Total current liabilities                                                                                  |   |        | 9,876,248   |   |        |   | 18,679,116 |   |
| Long-term debt                                                                                                                                 |   |        | -           |   |        |   | 9,958,981 |   |
| Environmental reserves                                                                                                                         |   |        | 810,000     |   |        |   | 810,000 |   |
| Deferred compensation                                                                                                                          |   |        | 377,799     |   |        |   | 369,512 |   |
| Deferred income taxes                                                                                                                          |   |        | 1,316,000   |   |        |   | 1,682,000 |   |
| 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                                                                                                                 |   |        | 820,306     |   |        |   | 752,765 |   |
| Retained earnings                                                                                                                              |   |        | 69,400,045  |   |        |   | 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                                                                                                                     |   |        | 62,971,669  |   |        |   | 62,866,568 |   |
| Total liabilities and shareholders' equity                                                                                                     |   | $           | 75,351,716  |   |        | $      | 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 Income                            |   |               |       |   |              |   |       |        |   |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |
| (Unaudited)                                                            |   | Three Months Ended |       |   | Nine Months Ended |   |
|                                                                   |   | Oct 3, 2009        |       |   | Sep 27, 2008      |   |       | Oct 3, 2009 |   |   | Sep 27, 2008 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |
| Net sales                                                              |   | $                  | 25,712,110 |   |              | $      | 38,867,631 |        |   | $      | 77,797,009   |   |   | $ | 130,611,887 |   |
| Cost of goods sold                                                     |   |               | 22,690,998 |   |              |   | 34,442,093 |        |   |   | 69,875,540   |   |   |   | 112,348,451 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Gross profit                                                           |   |               | 3,021,112  |   |              |   | 4,425,538  |        |   |   | 7,921,469    |   |   |   | 18,263,436 |   |
| Selling, general and administrative                                    |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|     expense                                        |   |               | 2,394,490  |   |              |   | 2,361,513  |        |   |   | 7,056,502    |   |   |   | 8,086,429 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Operating income                                                       |   |               | 626,622    |   |              |   | 2,064,025  |        |   |   | 864,967      |   |   |   | 10,177,007 |   |
| Other (income) and expense                                             |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|   Interest expense                                           |   |               | 90,676     |   |              |   | 144,768    |        |   |   | 285,148      |   |   |   | 498,324 |   |
|   Change in fair value of interest                           |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|        rate swap                    |   |               | (37,000    | )      |              |   | 3,000      |        |   |   | (114,000     | )      |   |   | 3,000 |   |
|   Other, net                                                 |   |               | 145,726    |   |              |   | (4         | )           |   |   | 143,844      |   |   |   | (220 | ) |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Income from continuing operations                                      |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| before income tax                                                      |   |               | 427,220    |   |              |   | 1,916,261  |        |   |   | 549,975      |   |   |   | 9,675,903 |   |
| Provision for income taxes                                             |   |               | 146,000    |   |              |   | 655,000    |        |   |   | 188,000      |   |   |   | 3,295,000 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Net income from continuing operations                                  |   |               | 281,220    |   |              |   | 1,261,261  |        |   |   | 361,975      |   |   |   | 6,380,903 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Income (loss) from discontinued                                        |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| operations before income taxes                                         |   |               | 281,495    |   |              |   | (29,439    | )           |   |   | 211,891      |   |   |   | 172,726 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Tax provision (benefit)                                                |   |               | 96,000     |   |              |   | (10,000    | )           |   |   | 72,000       |   |   |   | 58,000 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Net income (loss) from discontinued                                    |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| operations                                                             |   |               | 185,495    |   |              |   | (19,439    | )           |   |   | 139,891      |   |   |   | 114,726 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Net income                                                             |   | $                  | 466,715    |   |              | $      | 1,241,822  |        |   | $      | 501,866      |   |   | $ | 6,495,629 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Net income (loss) per basic common share                               |   |               |       |   |              |   |       |        |   |   |         |   |   |
| Continuing operations                                                  |   | $                  | .04        |   |              | $      | .20        |        |   | $      | .06          |   |   | $ | 1.02 |   |
| Discontinued operations                                                |   | $                  | .03        |   |              | $      | (.00       | )           |   | $      | .02          |   |   | $ | .02 |   |
| Net income                                                             |   | $                  | .07        |   |              | $      | .20        |        |   | $      | .08          |   |   | $ | 1.04 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Net income (loss) per diluted common share                             |   |               |       |   |              |   |       |        |   |   |         |   |   |
| Continuing operations                                                  |   | $                  | .04        |   |              | $      | .20        |        |   | $      | .06          |   |   | $ | 1.01 |   |
| Discontinued operations                                                |   | $                  | .03        |   |              | $      | (.00       | )           |   | $      | .02          |   |   | $ | .02 |   |
| Net income                                                             |   | $                  | .07        |   |              | $      | .20        |        |   | $      | .08          |   |   | $ | 1.03 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Weighted average shares outstanding                                    |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| Basic                                                                  |   |               | 6,266,576  |   |              |   | 6,247,534  |        |   |   | 6,260,215    |   |   |   | 6,244,121 |   |
|   Dilutive effect from stock                                 |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|     options and grants                             |   |               | 11,320     |   |              |   | 49,021     |        |   |   | 6,589        |   |   |   | 46,268 |   |
| Diluted                                                                |   |               | 6,277,896  |   |              |   | 6,296,555  |        |   |   | 6,266,804    |   |   |   | 6,290,389 |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
|                                                                   |   |               |       |   |              |   |       |        |   |   |         |   |   |   |   |   |
| See accompanying notes to condensed consolidated financial statements. |   |               |       |   |              |   |       |        |   |

----

|  Synalloy Corporation                                                        |   |              |        |   |         |   |
|-----------------------------------------------------------------------------------|--------|-------------------|-------------|--------|--------------|--------|
| Condensed Consolidated Statements of Cash Flows                                   |   |              |        |   |         |   |
| (Unaudited)                                                                       |   | Nine Months Ended |        |
|                                                                              |   | Oct 3, 2009       |        |   | Sep 27, 2008 |   |
| Operating activities                                                              |   |              |        |   |         |   |
|  Net income from continuing operations                                       |   | $                 | 361,975     |   |         | $      | 6,380,903 |   |
|  Adjustments to reconcile net income to net cash                             |   |              |        |   |         |   |   |   |
|     provided by (used in) continuing operating activities:    |   |              |        |   |         |   |   |   |
|     Depreciation expense                                      |   |              | 1,968,904   |   |         |   | 1,862,924 |   |
|     Amortization of deferred charges                          |   |              | 50,442      |   |         |   | 26,442 |   |
|     Deferred income taxes                                     |   |              | (387,051    | )      |         |   | 1,385,051 |   |
|     Provision for losses on accounts receivable               |   |              | 235,593     |   |         |   | 523,524 |   |
|     Gain on sale of property, plant and equipment             |   |              | (20,721     | )      |         |   | - |   |
|     Cash value of life insurance                              |   |              | (43,249     | )      |         |   | (39,522 | ) |
|     Environmental reserves                                    |   |              | 176,726     |   |         |   | 76,723 |   |
|     Issuance of treasury stock for director fees              |   |              | 75,010      |   |         |   | 74,970 |   |
|     Employee stock option and stock grant compensation        |   |              | 158,126     |   |         |   | 162,019 |   |
|     Changes in operating assets and liabilities:              |   |              |        |   |         |   |   |   |
|         Accounts receivable               |   |              | 5,008,477   |   |         |   | (6,501,925 | ) |
|         Inventories                       |   |              | 16,599,310  |   |         |   | (2,154,296 | ) |
|         Other assets and liabilities      |   |              | (197,701    | )      |         |   | (61,622 | ) |
|         Accounts payable                  |   |              | (4,755,584  | )      |         |   | 4,755,499 |   |
|         Accrued expenses                  |   |              | (2,710,506  | )      |         |   | (2,592,279 | ) |
|         Income taxes payable              |   |              | 1,253,173   |   |         |   | 1,012,460 |   |
| Net cash provided by continuing operating activities                              |   |              | 17,772,924  |   |         |   | 4,910,871 |   |
| Net cash provided by (used in) discontinued operating activities                  |   |              | 1,478,154   |   |         |   | (2,562,693 | ) |
| Net cash provided by operating activities                                         |   |              | 19,251,078  |   |         |   | 2,348,178 |   |
| Investing activities                                                              |   |              |        |   |         |   |   |   |
|      Purchases of property, plant and equipment          |   |              | (1,383,903  | )      |         |   | (2,818,901 | ) |
|      Proceeds from sale of property, plant and equipment |   |              | 1,150,643   |   |         |   | - |   |
|      Acquisition of Ram-Fab, Inc.                        |   |              | (5,707,773  | )      |         |   | - |   |
| Net cash used in continuing investing activities                                  |   |              | (5,941,033  | )      |         |   | (2,818,901 | ) |
|      Sale of Blackman Uhler Specialties, LLC assets, net |   |              | 10,365,757  |   |         |   | - |   |
|      Sale of Organic Pigments, LLC assets, net           |   |              | 1,441,006   |   |         |   | - |   |
|      Other                                               |   |              | (501,346    | )      |         |   | (512,871 | ) |
| Net cash provided by (used in) discontinued investing activities                  |   |              | 11,305,417  |   |         |   | (512,871 | ) |
| Net cash provided by (used in) investing activities                               |   |              | 5,364,384   |   |         |   | (3,331,772 | ) |
| Financing activities                                                              |   |              |        |   |         |   |   |   |
|      Net (payments on) proceeds from long-term debt      |   |              | (10,425,648 | )      |         |   | 2,531,155 |   |
|      Proceeds from exercised stock options               |   |              | -           |   |         |   | 4,618 |   |
|      Excess tax benefits from Stock Grant Plan           |   |              | 1,914       |   |         |   | 13,720 |   |
|      Dividends Paid                                      |   |              | (631,817    | )      |         |   | (1,566,294 | ) |
| Net cash (used in) provided by financing activities                               |   |              | (11,055,551 | )      |         |   | 983,199 |   |
|      Increase (decrease) in cash and cash equivalents    |   |              | 13,559,911  |   |         |   | (395 | ) |
|      Cash and cash equivalents at beginning of period    |   |              | 97,215      |   |         |   | 28,269 |   |
|                                                                              |   |              |        |   |         |   |   |   |
| Cash and cash equivalents at end of period                                        |   | $                 | 13,657,126  |   |         | $      | 27,874 |   |
|                                                                              |   |              |        |   |         |   |   |   |
| 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 |   |
| Forfeited or expired           |   |   | (440   | )      |       | $      | 24.61 |   |
|                           |   |   |   |   |       |   |   |   |
| Outstanding at October 3, 2009 |   |   | 23,922 |   |       | $      | 17.70 |   |

----

|                                        |   | THREE MONTHS ENDED |       |   | NINE MONTHS ENDED |   |
|---------------------------------------------|--------|--------------------|------------|--------|-------------------|--------|
|                                        |   | Oct 3, 2009        |       |   | Sep 27, 2008      |   |   | Oct 3, 2009 |   |   | Sep 27, 2008 |   |
|                                        |   |               |       |   |              |   |   |   |   |   |   |   |
| Net sales                                   |   |               |       |   |              |   |   |   |   |   |   |   |
| Metals Segment                              |   | $                  | 16,857,000 |   |              | $      | 29,102,000 |   |   | $ | 53,619,000 |   |   | $ | 103,669,000 |   |
| Specialty Chemicals Segment                 |   |               | 8,855,000  |   |              |   | 9,766,000 |   |   |   | 24,178,000 |   |   |   | 26,943,000 |   |
|                                        |   | $                  | 25,712,000 |   |              | $      | 38,868,000 |   |   | $ | 77,797,000 |   |   | $ | 130,612,000 |   |
| Operating income                            |   |               |       |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Metals Segment                              |   | $                  | 307,000    |   |              | $      | 1,858,000 |   |   | $ | 973,000 |   |   | $ | 10,522,000 |   |
| Specialty Chemicals Segment                 |   |               | 1,004,000  |   |              |   | 776,000 |   |   |   | 1,940,000 |   |   |   | 1,753,000 |   |
|                                        |   |               | 1,311,000  |   |              |   | 2,634,000 |   |   |   | 2,913,000 |   |   |   | 12,275,000 |   |
| Unallocated expenses                        |   |               |       |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                   |   |               | 684,000    |   |              |   | 570,000 |   |   |   | 2,048,000 |   |   |   | 2,098,000 |   |
| Interest and debt expense                   |   |               | 91,000     |   |              |   | 145,000 |   |   |   | 285,000 |   |   |   | 498,000 |   |
| Change in fair value of interest            |   |               |       |   |              |   |   |   |   |   |   |   |   |   |   |   |
|     rate swap           |   |               | (37,000    | )      |              |   | 3,000 |   |   |   | (114,000 | ) |   |   | 3,000 |   |
| Other expense                               |   |               | 146,000    |   |              |   | - |   |   |   | 144,000 |   |   |   | - |   |
| Income from continuing operations           |   |               |       |   |              |   |   |   |   |   |   |   |   |
|     before income taxes |   | $                  | 427,000    |   |              | $      | 1,916,000 |   |   | $ | 550,000 |   |   | $ | 9,676,000 |   |

----

----

----

----

----

----

|  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: November 12, 2009            | By:                  | /s/ Ronald H. Braam                  |
|                               |                 | Ronald H. Braam |
|                               |                 | President and Chief Executive Officer |
|                               |                 |   |
| Date:  November 12, 2009 | By:                  | /s/ Gregory M. Bowie                    |
|                               |                 | Gregory M. Bowie |
|                               |                 | Chief Financial Officer and Principal Accounting Officer |
|                               |                 |   |

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