----

**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      10-Q**

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

**For      the Quarterly Period Ended June 30, 2007**

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

**For      the Transition Period From _____ to ____**

**Commission      file number 0-19687**

**SYNALLOY      CORPORATION**

*(Exact      name of registrant as specified in its charter)*

| **Delaware***(State                or other jurisdiction of**incorporation                or organization)*                                      |   | **57-0426694***(IRS                Employer**Identification                Number)* |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------|
|                                                                                                                                             |   |                                                                                |
| **2155                West Croft Circle****Spartanburg,                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      __                           Non-accelerated      filer X

----

**Synalloy      Corporation**

**Index**

**PART      I.**
**FINANCIAL      INFORMATION**

|  Item                1. | Financial                Statements (unaudited)                                                                                                      |
|------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         | Condensed                consolidated balance sheets – June 30, 2007 and December 30,                2006                                      |
|                         | Condensed                consolidated statements of income - Three and six months ended June                30,                2007 and July 1, 2006 |
|                         | Condensed                consolidated statements of cash flows - Six months ended June 30,                2007 and                July 1, 2006       |
|                         | Notes                to condensed consolidated financial statements - June 30,                2007                                                   |
| Item                2.       | Management's                Discussion and Analysis of Financial Condition and Results of                Operations                                  |
| Item                3.       | 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                4.  | Submission                of Matters to a Vote of Security Holders         |
| Item                6.  | Exhibits                                                                   |
|                    | Signatures                and Certifications                               |

----

| **Item                1. FINANCIAL                STATEMENTS**                                                                                                                    |   |                            |        |   |                            |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|-------------|--------|---------------------------------|--------|
| **Synalloy                Corporation**                                                                                                                                           |   |                            |        |   |                            |   |
| **Condensed                Consolidated Balance Sheets**                                                                                                                          |   |                            |        |   |                            |   |
|                                                                                                                                                                              |   | **Jun                30, 2007** |        |   | **Dec                30, 2006** |   |
|                                                                                                                                                                              |   | (Unaudited)                     |        |   | (Note)                          |   |
| **Assets**                                                                                                                                                                        |   |                            |        |   |                            |   |
| *Current                assets*                                                                                                                                                   |   |                            |        |   |                            |   |
| Cash                and cash equivalents                                                                                                                                          |   | $                               | 8,920       |   |                            | $      | 21,413 |   |
| Accounts                receivable, less allowance                                                                                                                                |   |                            |        |   |                            |   |   |   |
| for                doubtful accounts                                                                                                                                              |   |                            | 22,374,636  |   |                            |   | 22,428,829 |   |
| Inventories                                                                                                                                                                       |   |                            |        |   |                            |   |   |   |
| Raw                materials                                                                                                                                                      |   |                            | 13,750,906  |   |                            |   | 17,361,355 |   |
| Work-in-process                                                                                                                                                                   |   |                            | 15,148,819  |   |                            |   | 13,323,868 |   |
| Finished                goods                                                                                                                                                     |   |                            | 16,656,987  |   |                            |   | 10,860,239 |   |
| Total                inventories                                                                                                                                                  |   |                            | 45,556,712  |   |                            |   | 41,545,462 |   |
|                                                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| Deferred                income taxes                                                                                                                                              |   |                            | 2,202,000   |   |                            |   | 1,793,000 |   |
| Prepaid                expenses and other current assets                                                                                                                          |   |                            | 391,730     |   |                            |   | 307,740 |   |
| Total                current assets                                                                                                                                               |   |                            | 70,533,998  |   |                            |   | 66,096,444 |   |
|                                                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| Cash                value of life insurance                                                                                                                                       |   |                            | 2,747,565   |   |                            |   | 2,723,565 |   |
| Property,                plant & equipment, net of accumulated                                                                                                                |   |                            |        |   |                            |   |   |   |
| depreciation                of $39,437,000 and $37,898,000                                                                                                                        |   |                            | 19,788,066  |   |                            |   | 18,951,820 |   |
| Deferred                charges and other assets                                                                                                                                  |   |                            | 1,554,175   |   |                            |   | 1,585,337 |   |
|                                                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| **Total                assets**                                                                                                                                                   |   | $                               | 94,623,804  |   |                            | $      | 89,357,166 |   |
|                                                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| **Liabilities                and Shareholders' Equity**                                                                                                                           |   |                            |        |   |                            |   |   |   |
| *Current                liabilities*                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| Current                portion of long-term debt                                                                                                                                  |   | $                               | 466,667     |   |                            | $      | 466,667 |   |
| Accounts                payable                                                                                                                                                   |   |                            | 14,338,448  |   |                            |   | 11,775,703 |   |
| Accrued                expenses                                                                                                                                                   |   |                            | 5,749,593   |   |                            |   | 6,043,750 |   |
| Current                portion of environmental reserves                                                                                                                          |   |                            | 235,496     |   |                            |   | 226,053 |   |
| Income                taxes payable                                                                                                                                               |   |                            | 93,561      |   |                            |   | 1,200,198 |   |
| Total                current liabilities                                                                                                                                          |   |                            | 20,883,765  |   |                            |   | 19,712,371 |   |
|                                                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| Long-term                debt                                                                                                                                                     |   |                            | 15,870,498  |   |                            |   | 17,731,431 |   |
| Environmental                reserves                                                                                                                                             |   |                            | 616,000     |   |                            |   | 616,000 |   |
| Deferred                compensation                                                                                                                                              |   |                            | 445,337     |   |                            |   | 470,212 |   |
| Deferred                income taxes                                                                                                                                              |   |                            | 2,276,000   |   |                            |   | 3,700,000 |   |
| 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                                                                                                                                     |   |                            | 450,427     |   |                            |   | 56,703 |   |
| Retained                earnings                                                                                                                                                  |   |                            | 61,709,348  |   |                            |   | 54,921,022 |   |
| Less                cost of Common Stock in treasury:                                                                                                                             |   |                            |        |   |                            |   |   |   |
| 1,776,495                and 1,864,433 shares                                                                                                                                     |   |                            | (15,627,571 | )      |                            |   | (15,850,573 | ) |
| Total                shareholders' equity                                                                                                                                         |   |                            | 54,532,204  |   |                            |   | 47,127,152 |   |
|                                                                                                                                                                              |   |                            |        |   |                            |   |   |   |
| **Total                liabilities and shareholders' equity**                                                                                                                     |   | $                               | 94,623,804  |   |                            | $      | 89,357,166 |   |
|  Note:                The balance sheet at December 30, 2006 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** |       |   | **Six                Months Ended** |   |
|                                                                                                 |   | **Jun                30, 2007**       |       |   | **Jul                1, 2006**      |   |       | **Jun                30, 2007** |   |   | **Jul                1, 2006** |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |
| Net                sales                                                                             |   | $                                     | 43,940,977 |   |                                | $      | 36,728,508 |                            |   | $      | 88,339,265                     |   |   | $ | 72,891,980 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Cost                of goods sold                                                                    |   |                                  | 35,630,017 |   |                                |   | 31,459,968 |                            |   |   | 71,206,135                     |   |   |   | 63,623,755 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Gross                profit                                                                          |   |                                  | 8,310,960  |   |                                |   | 5,268,540  |                            |   |   | 17,133,130                     |   |   |   | 9,268,225 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
|  Selling,                general and administrative expense                                     |   |                                  | 3,138,415  |   |                                |   | 2,716,861  |                            |   |   | 6,486,017                      |   |   |   | 5,469,172 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Operating                income                                                                      |   |                                  | 5,172,545  |   |                                |   | 2,551,679  |                            |   |   | 10,647,113                     |   |   |   | 3,799,053 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Other                (income) and expense                                                            |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
|   Interest                expense                                                          |   |                                  | 262,369    |   |                                |   | 199,889    |                            |   |   | 471,172                        |   |   |   | 346,942 |   |
|   Other,                net                                                                |   |                                  | (545       | )      |                                |   | (50        | )                               |   |   | (1,574                         | )      |   |   | (589 | ) |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Income                before income taxes                                                            |   |                                  | 4,910,721  |   |                                |   | 2,351,840  |                            |   |   | 10,177,515                     |   |   |   | 3,452,700 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Provision                for income taxes                                                            |   |                                  | 1,715,000  |   |                                |   | 854,000    |                            |   |   | 3,457,000                      |   |   |   | 1,257,000 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Net                income                                                                            |   | $                                     | 3,195,721  |   |                                | $      | 1,497,840  |                            |   | $      | 6,720,515                      |   |   | $ | 2,195,700 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Net                income per common share:                                                          |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Basic                                                                                                |   | $                                     | .51        |   |                                | $      | .24        |                            |   | $      | 1.09                           |   |   | $ | .36 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Diluted                                                                                              |   | $                                     | .50        |   |                                | $      | .24        |                            |   | $      | 1.06                           |   |   | $ | .35 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Average                shares outstanding:                                                           |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| Basic                                                                                                |   |                                  | 6,210,877  |   |                                |   | 6,122,679  |                            |   |   | 6,186,493                      |   |   |   | 6,115,834 |   |
| Dilutive                effect from stock options and grants                                         |   |                                  | 134,221    |   |                                |   | 112,720    |                            |   |   | 125,005                        |   |   |   | 111,853 |   |
| Diluted                                                                                              |   |                                  | 6,345,098  |   |                                |   | 6,235,399  |                            |   |   | 6,311,498                      |   |   |   | 6,227,687 |   |
|                                                                                                 |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |
| See                accompanying notes to condensed consolidated financial                statements. |   |                                  |       |   |                                |   |       |                            |   |   |                           |   |   |   |   |   |

----

| **Synalloy                Corporation**                                                              |   |                                |       |   |                           |   |
|------------------------------------------------------------------------------------------------------|--------|-------------------------------------|------------|--------|--------------------------------|--------|
| **Condensed                Consolidated Statements of Cash Flows**                                   |   |                                |       |   |
|  (Unaudited)                                                                                    |   |                                |       |
|                                                                                                 |   | **Six                Months Ended** |       |
|                                                                                                 |   | **Jun                30, 2007**     |       |   | **Jul                1, 2006** |   |
| **Operating                activities**                                                              |   |                                |       |   |                           |   |
|  Net                income                                                                      |   | $                                   | 6,720,515  |   |                           | $      | 2,195,700 |   |
|  Adjustments                to reconcile net income to net cash                                 |   |                                |       |   |                           |   |   |   |
| provided                by (used in) operating activities:                                           |   |                                |       |   |                           |   |   |   |
| Depreciation                expense                                                                  |   |                                | 1,539,267  |   |                           |   | 1,454,288 |   |
| Amortization                of deferred charges                                                      |   |                                | 27,462     |   |                           |   | 27,462 |   |
| Deferred                income taxes                                                                 |   |                                | (838,000   | )      |                           |   | (1,024,000 | ) |
| Provision                for losses on accounts receivable                                           |   |                                | 245,922    |   |                           |   | 225,588 |   |
| Cash                value of life insurance                                                          |   |                                | (24,000    | )      |                           |   | (24,000 | ) |
| Environmental                reserves                                                                |   |                                | 9,443      |   |                           |   | 50,216 |   |
| Issuance                of treasury stock for director fees                                          |   |                                | 74,989     |   |                           |   | 81,226 |   |
| Employee                stock option compensation                                                    |   |                                | 80,681     |   |                           |   | 37,812 |   |
| Changes                in operating assets and liabilities:                                          |   |                                |       |   |                           |   |   |   |
| Accounts                receivable                                                                   |   |                                | (191,729   | )      |                           |   | 1,208,262 |   |
| Inventories                                                                                          |   |                                | (4,011,250 | )      |                           |   | (3,041,996 | ) |
| Other                assets and liabilities                                                          |   |                                | (105,165   | )      |                           |   | (131,929 | ) |
| Accounts                payable                                                                      |   |                                | 2,562,745  |   |                           |   | (681,596 | ) |
| Accrued                expenses                                                                      |   |                                | (294,157   | )      |                           |   | (1,013,535 | ) |
| Income                taxes payable                                                                  |   |                                | (1,106,637 | )      |                           |   | (288,977 | ) |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| **Net                cash provided by (used in) operating activities**                               |   |                                | 4,690,086  |   |                           |   | (925,479 | ) |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| **Investing                activities**                                                              |   |                                |       |   |                           |   |   |   |
| Purchases                of property, plant and equipment                                            |   |                                | (2,375,513 | )      |                           |   | (2,206,794 | ) |
| Proceeds                from note receivable                                                         |   |                                | -          |   |                           |   | 400,000 |   |
| **Net                cash used in investing activities**                                             |   |                                | (2,375,513 | )      |                           |   | (1,806,794 | ) |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| **Financing                activities**                                                              |   |                                |       |   |                           |   |   |   |
| (Payments                on) net proceeds from long-term debt                                        |   |                                | (1,860,933 | )      |                           |   | 2,664,523 |   |
| Dividends                paid                                                                        |   |                                | (927,189   | )      |                           |   | - |   |
| Capital                contributed                                                                   |   |                                | 20,340     |   |                           |   | - |   |
| Proceeds                from exercised stock options                                                 |   |                                | 440,716    |   |                           |   | 65,797 |   |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| **Net                cash (used in) provided by financing activities**                               |   |                                | (2,327,066 | )      |                           |   | 2,730,320 |   |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| Decrease                in cash and cash equivalents                                                 |   |                                | (12,493    | )      |                           |   | (1,953 | ) |
| Cash                and cash equivalents at beginning of period                                      |   |                                | 21,413     |   |                           |   | 2,379 |   |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| **Cash                and cash equivalents at end of period**                                        |   | $                                   | 8,920      |   |                           | $      | 426 |   |
|                                                                                                 |   |                                |       |   |                           |   |   |   |
| See                accompanying notes to condensed consolidated financial                statements. |   |                                |       |   |                           |   |   |   |

----

**Synalloy      Corporation**

**Notes      To Condensed Consolidated Financial Statements**

**(Unaudited)**

**June      30, 2007**

**NOTE      1-- BASIS OF      PRESENTATION**

**NOTE      2--INVENTORIES**

**NOTE      3--STOCK OPTIONS AND EMPLOYEE STOCK GRANTS**

|                                         |   | Weighted |   |   |        |   |    | Weighted                  |   |   |                    |   |   |      |      |
|----------------------------------------------|--------|----------|--------|--------|-------------|--------|---------|---------------------------|--------|--------|-------------------------|--------|--------|-----------|-----------|
|                                         |   | Average  |   |   |        |   |    | Average                   |   |   | Intrinsic               |   |   |      |      |
|                                         |   | Exercise |   |   | Options     |   |    | Contractual               |   |   | Value                of |   |   | Options   |      |
|                                         |   | Price    |   |   | Outstanding |   |    | Term                      |   |   | Options                 |   |   | Available |      |
| Outstanding                at                |   |     |   |   |        |   |    | (in                years) |   |   |                    |   |   |      |      |
|   December                30, 2006 |   | $        | 9.64   |   |        |   | 282,150 |                      |   |   | 4.1                     |   |   | $         | 2,512,000 |   |   |   | 207,100 |   |
|                                         |   |     |   |   |        |   |    |                      |   |   |                    |   |   |      |      |   |   |   |   |   |
| First                quarter:                |   |     |   |   |        |   |    |                      |   |   |                    |   |   |      |      |   |   |   |   |   |
|   Exercised                        |   | $        | 11.39  |   |        |   | (93,107 | )                         |   |   |                    |   |   | $         | 1,268,000 |   |   |   |   |   |
|   Expired                          |   | $        | 8.82   |   |        |   | (9,000  | )                         |   |   |                    |   |   | $         | 172,000   |   |   |   |   |   |
|                                         |   |     |   |   |        |   |    |                      |   |   |                    |   |   |      |      |   |   |   |   |   |
| Second                quarter:               |   |     |   |   |        |   |    |                      |   |   |                    |   |   |      |      |   |   |   |   |   |
|   Exercised                        |   | $        | 8.05   |   |        |   | (25,500 | )                         |   |   |                    |   |   | $         | 792,000   |   |   |   |   |   |
|   Expired                          |   | $        | 15.13  |   |        |   | (10,000 | )                         |   |   |                    |   |   | $         | 198,000   |   |   |   |   |   |
|                                         |   |     |   |   |        |   |    |                      |   |   |                    |   |   |      |      |   |   |   |   |   |
| Outstanding                at June 30, 2007  |   | $        | 8.46   |   |        |   | 144,543 |                      |   |   | 5.2                     |   |   | $         | 3,822,000 |   |   |   | 207,100 |   |
| Exercisable                options           |   | $        | 7.51   |   |        |   | 88,687  |                      |   |   | 3.8                     |   |   | $         | 2,429,000 |   |   |   |   |   |
| Options                expected to vest      |   | $        | 9.96   |   |        |   | 55,856  |                      |   |   | 7.6                     |   |   | $         | 1,393,000 |   |   |   |   |   |

----

**Synalloy      Corporation**

**Notes      To Condensed Consolidated Financial Statements**

**(Unaudited)**

**June      30, 2007**

**NOTE      4--INCOME TAXES**

----

**Synalloy      Corporation**

**Notes      To Condensed Consolidated Financial Statements**

**(Unaudited)**

**June      30, 2007**

**NOTE      5--PAYMENT OF DIVIDENDS**

**NOTE      6--SEGMENT INFORMATION**

|                                            |   | Three                  Months Ended |       |   | Year                  to Date |   |
|-------------------------------------------------|--------|-------------------------------------|------------|--------|-------------------------------|--------|
|                                            |   | Jun                  30, 2007       |       |   | Jul                  1, 2006  |   |   | Jun                  30, 2007 |   |   | Jul                  1, 2006 |   |
| **Net                  sales**                  |   |                                |       |   |                          |   |   |   |   |   |   |   |
| Specialty                  Chemicals Segment    |   | $                                   | 11,619,000 |   |                          | $      | 12,545,000 |   |   | $ | 24,063,000 |   |   | $ | 25,433,000 |   |
| Metals                  Segment                 |   |                                | 32,322,000 |   |                          |   | 24,184,000 |   |   |   | 64,276,000 |   |   |   | 47,459,000 |   |
|                                            |   |                                |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                            |   | $                                   | 43,941,000 |   |                          | $      | 36,729,000 |   |   | $ | 88,339,000 |   |   | $ | 72,892,000 |   |
|                                            |   |                                |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| **Segment                  income**             |   |                                |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Specialty                  Chemicals Segment    |   | $                                   | 527,000    |   |                          | $      | 787,000 |   |   | $ | 1,134,000 |   |   | $ | 1,588,000 |   |
| Metals                  Segment                 |   |                                | 5,354,000  |   |                          |   | 2,292,000 |   |   |   | 10,974,000 |   |   |   | 3,412,000 |   |
|                                            |   |                                | 5,881,000  |   |                          |   | 3,079,000 |   |   |   | 12,108,000 |   |   |   | 5,000,000 |   |
| **Unallocated                  expenses**       |   |                                |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                       |   |                                | 709,000    |   |                          |   | 527,000 |   |   |   | 1,461,000 |   |   |   | 988,000 |   |
| Plant                  relocation costs         |   |                                | 0          |   |                          |   | 0 |   |   |   | 0 |   |   |   | 213,000 |   |
| Interest                  expense               |   |                                | 262,000    |   |                          |   | 200,000 |   |   |   | 471,000 |   |   |   | 347,000 |   |
| Other                  (income) expense         |   |                                | (1,000     | )      |                          |   | 0 |   |   |   | (2,000 | ) |   |   | (1,000 | ) |
|                                            |   |                                |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| **Income                  before income taxes** |   | $                                   | 4,911,000  |   |                          | $      | 2,352,000 |   |   | $ | 10,178,000 |   |   | $ | 3,453,000 |   |

**NOTE      7--SALE OF ASSETS**

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**Synalloy      Corporation**

**Notes      To Condensed Consolidated Financial Statements**

**(Unaudited)**

**June      30, 2007**

**NOTE      8—RECENT ACCOUNTING PRONOUNCEMENTS**

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**Synalloy      Corporation**

**Item      2.   Management's Discussion and Analysis of Financial Condition      and**
** Results      of Operations**

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**Synalloy      Corporation**

**Item      2.   Management's Discussion and Analysis of Financial Condition      and**
** Results      of Operations - Continued**

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**Synalloy      Corporation**

**Item      2.   Management's Discussion and Analysis of Financial Condition      and**
** Results      of Operations - Continued**

**Safe      Harbor Statement under the Private Securities Litigation Reform Act of      1995**

**Item      3. Market Risk*.***

**Item      4. Controls and Procedures*.***

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**Synalloy      Corporation**

**PART      II: OTHER INFORMATION**

**Item      1A. Risk Factors.**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds**

|                       |                                  |   |                                     |   |   |                                     |
|----------------------------|---------------------------------------|--------|------------------------------------------|--------|--------|------------------------------------------|
| Date                Issued | Class                of Purchasers    |   | Number                  of Shares Issued |   |   | Aggregate                  ExercisePrice |
|                       |                                  |   |                                     |   |   |                                     |
| 4/05/2007                  | Officers                and employees |   |                                     | 1,500  |   |                                     | $ | 6,975 |
| 4/30/2007                  | Officers                and employees |   |                                     | 11,000 |   |                                     |   | 122,125 |
| 4/30/2007                  | Directors                             |   |                                     | 1,500  |   |                                     |   | 22,688 |
| 5/17/2007                  | Officers                and employees |   |                                     | 4,000  |   |                                     |   | 18,600 |
| 5/31/2007                  | Officers                and employees |   |                                     | 2,000  |   |                                     |   | 9,300 |
| 6/19/2007                  | Officers                and employees |   |                                     | 5,500  |   |                                     |   | 25,575 |
|                       |                                  |   |                                     | 25,500 |   |                                     | $ | 205,263 |

| Issuer                Purchases of Equity Securities                                                                                                     |   |                         |   |   |                         | Total                Number |   |                                      | Maximum                Number |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|--------|--------|------------------------------|-----------------------------|--------|-------------------------------------------|-------------------------------|--------|
|                                                                                                                                                     |   |                         |   |   |                         |                        |   | of                Shares                  |                          |   | of                Shares |   |
|                                                                                                                                                     |   |                         |   |   |                         |                        |   | Purchased                as Part of  |                          |   | that                may yet be |   |
| Quarter                                                                                                                                                  |   |                         |   |   | Average                      |                        |   | Publicly                Announced         |                          |   | Purchased                Under |   |
| Ended                2007                                                                                                                                |   | Total                Number  |   |   | Price                Paid    |                        |   | Plans                                     |                          |   | the                Plans |   |
| for                the Period                                                                                                                            |   | of                Shares (1) |   |   | per                Share (1) |                        |   | or                Programs                |                          |   | or                Programs |   |
| 4-1                to 4-28                                                                                                                               |   |                         | -      |   |                         |                        | -      |                                      |                          |   | - |   |   |   | - |   |
| 4-29                to 5-26                                                                                                                              |   |                         | 1,130  |   |                         | $                           | 41.13  |                                      |                          |   | - |   |   |   | - |   |
| 5-27                to 6-30                                                                                                                              |   |                         | -      |   |                         |                        | -      |                                      |                          |   | - |   |   |   | - |   |
| Total                                                                                                                                                    |   |                         | 1,130  |   |                         | $                           | 41.13  |                                      |                          |   | - |   |   |   | - |   |
|                                                                                                                                                     |   |                         |   |   |                         |                        |   |                                      |                          |   |   |   |   |   |   |   |
| (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.                                                                                         |   |                         |   |   |                         |                        |   |                                      |                          |

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**Synalloy      Corporation**

**Item      4. Submission of Matters to a Vote of Security Holders.**

| A.     | The                Annual Meeting of Shareholders was held April 26, 2007 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                                                                                                                               |   |   | 5,661,681 |   |   |   | 23,656 |   |
|   | James                G. Lane, Jr.                                                                                                                              |   |   | 5,376,403 |   |   |   | 308,934 |   |
|   | Ronald                H. Braam                                                                                                                                 |   |   | 5,667,268 |   |   |   | 8,069 |   |
|   | Craig                C. Bram                                                                                                                                   |   |   | 5,667,962 |   |   |   | 7,375 |   |
|   | Carroll                D. Vinson                                                                                                                               |   |   | 5,574,587 |   |   |   | 110,750 |   |
|   | Murray                H. Wright                                                                                                                                |   |   | 5,675,488 |   |   |   | 9,849 |   |

|  **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  |
|                                                             |   |   |

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**Synalloy      Corporation**

**SIGNATURES**

|                                           |                                    |
|------------------------------------------------|-----------------------------------------|
|                                           | **SYNALLOY                CORPORATION** |
|                                           |                                    | (Registrant) |
|                                           |                                    |   |
|                                           |                                    |   |
| Date:                August 7, 2007            | By:                                     | **/s/ Ronald                H.                Braam                 ** |
|                                           |                                    | Ronald                H. Braam |
|                                           |                                    | President                and Chief Executive Officer |
|                                           |                                    |   |
| Date:  August                7, 2007 | By:                                     | **/s/ Gregory                M.                Bowie                   ** |
|                                           |                                    | Gregory                M. Bowie |
|                                           |                                    | Vice                President Finance and Chief Financial Officer |
|                                           |                                    |   |

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