----

| [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 areacode) |
|-----------------------------------------------------------------------------|

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

----

|  Item      1. | Financial      Statements (unaudited)                                                                               |
|--------------------|---------------------------------------------------------------------------------------------------------------------|
|               | Condensed      consolidated balance sheets - April 3, 2010 and January 2,      2010                                 |
|               | Condensed      consolidated statements of operations - Three months ended April 3, 2010      and April      4, 2009 |
|               | Condensed      consolidated statements of cash flows - Three months ended April 3, 2010      and April      4, 2009 |
|               | Notes      to condensed consolidated financial statements - April 3,    2010                                        |
| 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      1. | Legal      Proceedings                                           |
|--------------|------------------------------------------------------------------|
| Item      2. | Unregistered      Sales of Equity Securities and Use of Proceeds |
| Item      6. | Exhibits                                                         |
|         | Signatures      and Certifications                               |

----

| PART      I                                                                                                                                              |   |             |        |   |             |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|-------------|--------|------------------|--------|
| Item      1. FINANCIAL STATEMENTS                                                                                                                        |   |             |        |   |             |   |
| Synalloy      Corporation                                                                                                                                |   |             |        |   |             |   |
| Condensed      Consolidated Balance Sheets                                                                                                               |   | Apr      3, 2010 |        |   | Jan      2, 2010 |   |
|                                                                                                                                                     |   | (Unaudited)      |        |   | (Note)           |   |
| Assets                                                                                                                                                   |   |             |        |   |             |   |
| Current      assets                                                                                                                                      |   |             |        |   |             |   |
| Cash      and cash equivalents                                                                                                                           |   | $                | 1,883,627   |   |             | $      | 14,096,557 |   |
| Accounts      receivable, less allowance                                                                                                                 |   |             |        |   |             |   |   |   |
| for      doubtful accounts                                                                                                                               |   |             | 20,001,641  |   |             |   | 14,041,130 |   |
| Inventories                                                                                                                                              |   |             |        |   |             |   |   |   |
| Raw      materials                                                                                                                                       |   |             | 12,571,761  |   |             |   | 8,639,078 |   |
| Work-in-process                                                                                                                                          |   |             | 10,150,601  |   |             |   | 8,418,840 |   |
| Finished      goods                                                                                                                                      |   |             | 8,397,742   |   |             |   | 8,446,406 |   |
| Total      inventories                                                                                                                                   |   |             | 31,120,104  |   |             |   | 25,504,324 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| Income      taxes receivable                                                                                                                             |   |             | 900,128     |   |             |   | 919,743 |   |
| Deferred      income taxes                                                                                                                               |   |             | 1,832,545   |   |             |   | 1,702,000 |   |
| Prepaid      expenses and other current assets                                                                                                           |   |             | 573,586     |   |             |   | 636,680 |   |
| Total      current assets                                                                                                                                |   |             | 56,311,631  |   |             |   | 56,900,434 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| Cash      value of life insurance                                                                                                                        |   |             | 2,971,637   |   |             |   | 2,959,637 |   |
| Property,      plant & equipment, net of accumulated                                                                                                 |   |             |        |   |             |   |   |   |
| depreciation      of $37,386,714 and $36,732,950                                                                                                         |   |             | 15,939,425  |   |             |   | 15,796,882 |   |
| Goodwill                                                                                                                                                 |   |             | 2,354,730   |   |             |   | 2,354,730 |   |
| Deferred      charges, net                                                                                                                               |   |             | 240,000     |   |             |   | 240,000 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| Total      assets                                                                                                                                        |   | $                | 77,817,423  |   |             | $      | 78,251,683 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| Liabilities      and Shareholders' Equity                                                                                                                |   |             |        |   |             |   |   |   |
| Current      liabilities                                                                                                                                 |   |             |        |   |             |   |   |   |
| Accounts      payable                                                                                                                                    |   | $                | 7,379,881   |   |             | $      | 6,581,631 |   |
| Accrued      expenses                                                                                                                                    |   |             | 6,055,917   |   |             |   | 5,820,748 |   |
| Current      portion of environmental reserves                                                                                                           |   |             | 342,805     |   |             |   | 375,000 |   |
| Total      current liabilities                                                                                                                           |   |             | 13,778,603  |   |             |   | 12,777,379 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| Environmental      reserves                                                                                                                              |   |             | 750,000     |   |             |   | 750,000 |   |
| Deferred      compensation                                                                                                                               |   |             | 380,624     |   |             |   | 380,562 |   |
| Deferred      income taxes                                                                                                                               |   |             | 1,623,000   |   |             |   | 1,623,000 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| 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                                                                                                                      |   |             | 825,346     |   |             |   | 856,021 |   |
| Retained      earnings                                                                                                                                   |   |             | 67,614,766  |   |             |   | 69,113,403 |   |
| Less      cost of Common Stock in treasury:                                                                                                              |   |             |        |   |             |   |   |   |
| 1,722,765      and 1,733,424 shares                                                                                                                      |   |             | (15,154,916 | )      |             |   | (15,248,682 | ) |
| Total      shareholders' equity                                                                                                                          |   |             | 61,285,196  |   |             |   | 62,720,742 |   |
|                                                                                                                                                     |   |             |        |   |             |   |   |   |
| Total      liabilities and shareholders' equity                                                                                                          |   | $                | 77,817,423  |   |             | $      | 78,251,683 |   |
| Note:      The balance sheet at January 2, 2010 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 |                           |
|                                                                             |   | Apr      3, 2010        |                           |   | Apr      4, 2009 |   |
|                                                                             |   |                    |                           |   |             |   |
| Net      sales                                                                   |   | $                       | 35,200,604                     |   |             | $      | 30,393,304 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Cost      of goods sold                                                          |   |                    | 32,450,943                     |   |             |   | 27,477,175 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Gross      profit                                                                |   |                    | 2,749,661                      |   |             |   | 2,916,129 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Selling,      general and administrative expense                                 |   |                    | 2,627,719                      |   |             |   | 2,344,735 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Operating      income                                                            |   |                    | 121,942                        |   |             |   | 571,394 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Other      (income) and expense                                                  |   |                    |                           |   |             |   |   |   |
|   Interest      expense                                                |   |                    | 1,507                          |   |             |   | 105,035 |   |
|  Change      in fiar value of interest rate swap                            |   |                    | -                              |   |             |   | (49,000 | ) |
|   Other,      net                                                      |   |                    | (9,012                         | )      |             |   | (66 | ) |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Income      from continuing operations                                           |   |                    |                           |   |             |   |   |   |
| before      income tax                                                           |   |                    | 129,447                        |   |             |   | 515,425 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Provision      for income taxes                                                  |   |                    | 47,000                         |   |             |   | 175,000 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      income from continuing operations                                       |   |                    | 82,447                         |   |             |   | 340,425 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Loss      from discontinued                                                      |   |                    |                           |   |             |   |   |   |
| operations      before income taxes                                              |   |                    | -                              |   |             |   | (221,680 | ) |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Tax      benefit                                                                 |   |                    | -                              |   |             |   | (75,000 | ) |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      loss from discontinued operations                                       |   |                    | -                              |   |             |   | (146,680 | ) |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      income                                                                  |   | $                       | 82,447                         |   |             | $      | 193,745 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      income (loss) per basic common share                                    |   |                    |                           |   |             |   |   |   |
| Income      from continuing operations                                           |   | $                       | 0.01                           |   |             | $      | 0.05 |   |
| Loss      from discontinued operations                                           |   | $                       | -                              |   |             | $      | (0.02 | ) |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      income                                                                  |   | $                       | 0.01                           |   |             | $      | 0.03 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      income (loss) per diluted common share                                  |   |                    |                           |   |             |   |   |   |
| Income      from continuing operations                                           |   | $                       | 0.01                           |   |             | $      | 0.05 |   |
| Loss      from discontinued operations                                           |   | $                       | -                              |   |             | $      | (0.02 | ) |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Net      income                                                                  |   | $                       | 0.01                           |   |             | $      | 0.03 |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| Weighted      average shares outstanding                                         |   |                    |                           |   |             |   |   |   |
| Basic                                                                            |   |                    | 6,271,788                      |   |             |   | 6,249,357 |   |
|   Dilutive      effect from stock                                      |   |                    |                           |   |             |   |   |   |
|     options      and grants                                  |   |                    | 24,927                         |   |             |   | 1,626 |   |
| Diluted                                                                          |   |                    | 6,296,715                      |   |             |   | 6,250,983 |   |
|                                                                             |   |                    |       |   |             |   |   |   |
|                                                                             |   |                    |                           |   |             |   |   |   |
| See      accompanying notes to condensed consolidated financial      statements. |   |
|                                                                             |   |                    |                           |   |             |   |   |   |

----

| Synalloy      Corporation                                                              |   |                    |        |   |             |   |       |
|----------------------------------------------------------------------------------------|--------|-------------------------|-------------|--------|------------------|--------|------------|
| Condensed      Consolidated Statements of Cash Flows                                   |   |                    |        |   |             |   |       |
| (Unaudited)                                                                            |   | Three      Months Ended |
|                                                                                   |   | Apr      3, 2010        |        |   | Apr      4, 2009 |
| Operating      activities                                                              |   |                    |        |   |             |
|  Net      income from continuing operations                                       |   | $                       | 82,447      |   |             | $      | 340,425    |   |
|  Adjustments      to reconcile net income to net cash                             |   |                    |        |   |             |   |       |   |   |
|     (used      in) provided by continuing operating activities:    |   |                    |        |   |             |   |       |   |   |
|     Depreciation      expense                                      |   |                    | 653,764     |   |             |   | 644,661    |   |
|     Amortization      of deferred charges                          |   |                    | -           |   |             |   | 8,814      |   |
|     Deferred      income taxes                                     |   |                    | (130,545    | )      |             |   | (89,821    | ) |
|     Provision      for losses on accounts receivable               |   |                    | 69,605      |   |             |   | 130,531    |   |
|     Provision      for losses on inventory                         |   |                    | 20,276      |   |             |   | (52,000    | ) |
|     Gain      on sale of property, plant and equipment             |   |                    | (8,600      | )      |             |   | (6,100     | ) |
|     Cash      value of life insurance                              |   |                    | (12,000     | )      |             |   | (19,249    | ) |
|     Environmental      reserves                                    |   |                    | (32,195     | )      |             |   | 15,132     |   |
|     Employee      stock option and stock grant compensation        |   |                    | 46,351      |   |             |   | 54,666     |   |
|     Changes      in operating assets and liabilities:              |   |                    |        |   |             |   |       |   |   |
|         Accounts      receivable               |   |                    | (6,030,116  | )      |             |   | 2,171,419  |   |
|         Inventories                            |   |                    | (5,636,056  | )      |             |   | 2,059,991  |   |
|         Other      assets and liabilities      |   |                    | 63,155      |   |             |   | (144,590   | ) |
|         Accounts      payable                  |   |                    | 798,250     |   |             |   | (1,404,860 | ) |
|         Accrued      expenses                  |   |                    | 235,170     |   |             |   | (773,012   | ) |
|         Income      taxes payable              |   |                    | 19,615      |   |             |   | 1,185,907  |   |
| Net      cash (used in) provided by continuing operating activities                    |   |                    | (9,860,879  | )      |             |   | 4,121,914  |   |
| Net      cash provided by discontinued operating activities                            |   |                    | -           |   |             |   | 804,878    |   |
| Net      cash (used in) provided by operating activities                               |   |                    | (9,860,879  | )      |             |   | 4,926,792  |   |
|                                                                                   |   |                    |        |   |             |   |       |   |   |
| Investing      activities                                                              |   |                    |        |   |             |   |       |   |   |
|      Purchases      of property, plant and equipment          |   |                    | (796,307    | )      |             |   | (311,027   | ) |
|      Proceeds      from sale of property, plant and equipment |   |                    | 8,600       |   |             |   | 6,100      |   |
| Net      cash used in continuing investing activities                                  |   |                    | (787,707    | )      |             |   | (304,927   | ) |
|      Sale      of Organic Pigments, LLC assets, net           |   |                    | -           |   |             |   | 1,441,006  |   |
|      Other                                                    |   |                    | -           |   |             |   | (46,803    | ) |
| Net      cash provided by discontinued operating investing    activities               |   |                    | -           |   |             |   | 1,394,203  |   |
| Net      cash (used in) provided by investing activities                               |   |                    | (787,707    | )      |             |   | 1,089,276  |   |
|                                                                                   |   |                    |        |   |             |   |       |   |   |
| Financing      activities                                                              |   |                    |        |   |             |   |       |   |   |
|      Net      payments on long-term debt                      |   |                    | -           |   |             |   | (5,058,982 | ) |
|      Dividends      paid                                      |   |                    | (1,581,084  | )      |             |   | (631,817   | ) |
|      Proceeds      from exercised stock options               |   |                    | 16,740      |   |             |   | -          |   |
|      Excess      tax benefits from Stock Grant Plan           |   |                    | -           |   |             |   | 1,914      |   |
| Net      cash used in financing activities                                             |   |                    | (1,564,344  | )      |             |   | (5,688,885 | ) |
|      (Decrease)      increase in cash and cash equivalents    |   |                    | (12,212,930 | )      |             |   | 327,183    |   |
|      Cash      and cash equivalents at beginning of period    |   |                    | 14,096,557  |   |             |   | 97,215     |   |
|                                                                                   |   |                    |        |   |             |   |       |   |   |
| Cash      and cash equivalents at end of period                                        |   | $                       | 1,883,627   |   |             | $      | 424,398    |   |
| See      accompanying notes to condensed consolidated financial      statements.       |   |                    |        |   |             |   |       |   |   |

----

----

|                                |   |   |    |   | Weighted        |   |
|-------------------------------------|--------|--------|---------|--------|-----------------|--------|
|                                |   |   |    |   | Average         |   |
|                                |   |   |    |   | Grant      Date |   |
|                                |   | Shares |    |   | Fair      Value |   |
|                                |   |   |    |   |            |   |
| Outstanding      at January 2, 2010 |   |   | 23,134  |   |            | $      | 17.62 |   |
|                                |   |   |    |   |            |   |   |   |
| Granted                             |   |   | 51,500  |   |            | $      | 7.88 |   |
| Vested                              |   |   | (7,059  | )      |            | $      | 19.30 |   |
| Forfeited      or expired           |   |   | (19,235 | )      |            | $      | 8.89 |   |
| Outstanding      at April 3, 2010   |   |   | 48,340  |   |            | $      | 10.47 |   |

----

|                                             |   | THREE      MONTHS ENDED |       |
|--------------------------------------------------|--------|-------------------------|------------|
|                                             |   | Apr      3, 2010        |       |   | Apr      4, 2009 |   |
| Net      sales                                   |   |                    |       |   |   |   |
| Metals      Segment                              |   | $                       | 24,963,000 |   |   | $ | 22,627,000 |   |
| Specialty      Chemicals Segment                 |   |                    | 10,238,000 |   |   |   | 7,766,000 |   |
|                                             |   | $                       | 35,201,000 |   |   | $ | 30,393,000 |   |
| Operating      (loss) income                     |   |                    |       |   |   |   |   |   |
| Metals      Segment                              |   | $                       | (402,000   | ) |   | $ | 774,000 |   |
| Specialty      Chemicals Segment                 |   |                    | 1,086,000  |   |   |   | 490,000 |   |
|                                             |   |                    | 684,000    |   |   |   | 1,264,000 |   |
| Unallocated      expenses                        |   |                    |       |   |   |   |   |   |
| Corporate                                        |   |                    | 562,000    |   |   |   | 693,000 |   |
| Interest      expense                            |   |                    | 2,000      |   |   |   | 105,000 |   |
| Change      in fair value of interest            |   |                    |       |   |   |   |   |   |
|     rate      swap           |   |                    | -          |   |   |   | (49,000 | ) |
| Other      income                                |   |                    | (9,000     | ) |   |   | - |   |
| Income      from continuing operations           |   |                    |       |   |   |
|     before      income taxes |   | $                       | 129,000    |   |   | $ | 515,000 |   |

----

----

----

----

----

----

----

|        |                        |   | Number      of Shares |   |   | Aggregate      Exercise |   |
|-------------|-----------------------------|--------|-----------------------|--------|--------|-------------------------|--------|
| Date Issued | Class of Purchasers         |   | Issued                |   |   | Price                   |   |
|        |                        |   |                  |   |   |                    |   |
| 2/27/2010   | Officers      and employees |   |                  | 3,600  |   |                    | $      | 16,740 |   |

| Issuer      Purchases of Equity Securities                                                                            |   |               |   |   |               | Total      Number |   |                    | Maximum      Number |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------|-------------------|--------|-------------------------|---------------------|--------|
|                                                                                                                  |   |               |   |   |               |              |   | of      Shares          |                |   | of      Shares |   |
|                                                                                                                  |   |               |   |   |               |              |   | Purchased      as       |                |   | that      may yet be |   |
| Quarter                                                                                                               |   |               |   |   | Average            |              |   | Part      of Publically |                |   | Purchased      Under |   |
| Ended      2010                                                                                                       |   | Total      Number  |   |   | Price      Paid    |              |   | Announced               |                |   | the      Plans |   |
| for      the Period                                                                                                   |   | of      Shares (1) |   |   | per      Share (1) |              |   | Plans      or Programs  |                |   | or      Programs |   |
|                                                                                                                  |   |               |   |   |               |              |   |                    |                |   |   |   |
|                                                                                                                  |   |               | -      |   |               |              | -      |                    |                |   | - |   |   |   | - |   |
|                                                                                                                  |   |               |   |   |               |              |   |                    |                |   |   |   |   |   |   |   |
| (1)      This column reflects the surrender of previously owned shares of common      stock to pay the exercise price |   |
| in      connection with the exercise of stock options.                                                                |   |               |   |   |               |              |   |                    |                |

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

----

|                               |                                                                                                                                                                                                                           |
|------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                               | SYNALLOY      CORPORATION                                                                                                                                                                                                      |
|                               |                                         (Registrant) |
|                               |                                                                                                                                                                                                                           |   |
|                               |                                                                                                                                                                                                                           |   |
| Date:      May 17,      2010       | By:                                                                                                                                                                                                                            | /s/ Ronald H.      Braam                 |
|                               |                                                                                                                                                                                                                           | Ronald      H. Braam |
|                               |                                                                                                                                                                                                                           | President      and Chief Executive Officer |
|                               |                                                                                                                                                                                                                           |   |
| Date:  May 17,      2010 | By:                                                                                                                                                                                                                            | /s/ Richard D.      Sieradzki                |
|                               |                                                                                                                                                                                                                           | Richard      D. Sieradzki |
|                               |                                                                                                                                                                                                                           | Interim      Chief Financial Officer and Principal AccountingOfficer |
|                               |                                                                                                                                                                                                                           |   |

----