Friedman Industries (FRD) 10-K 14 Jul 23 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2023	Jul. 14, 2023	Sep. 30, 2022
Document Information [Line Items]
Entity Registrant Name	FRIEDMAN INDUSTRIES, INCORPORATED
Document, Type	10-K
Document, Annual Report	true
Document, Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document, Transition Report	false
Entity, File Number	1-7521
Entity, Incorporation, State or Country Code	TX
Entity, Tax Identification Number	74-1504405
Entity, Address, Address Line One	1121 Judson Road Suite 124
Entity, Address, City or Town	Longview
Entity, Address, State or Province	TX
Entity, Address, Postal Zip Code	75601
City Area Code	903
Local Phone Number	758-3431
Title of 12(b) Security	Common Stock, $1 Par Value
Trading Symbol	FRD
Security Exchange Name	NYSEAMER
Entity, Well-known Seasoned Issuer	No
Entity, Voluntary Filers	No
Entity, Current Reporting Status	Yes
Entity, Interactive Data, Current	Yes
Entity, Filer Category	Non-accelerated Filer
Entity, Small Business	true
Entity, Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity, Shell Company	false
Entity, Public Float			$ 49,100,000
Entity, Common Stock Shares, Outstanding		7,375,588
Auditor Name	Moss Adams LLP
Auditor Location	Houston, Texas
Auditor Firm ID	659
Amendment Flag	false
Entity Central Index Key	0000039092

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
CURRENT ASSETS:
Cash	$ 2,992	$ 2,598
Accounts receivable, net of allowances for bad debts and cash discounts of $183 and $100 at March 31, 2023 and 2022, respectively	49,367	35,671
Inventories	86,246	67,946
Current portion of derivative assets	536	4,241
Other current assets	4,515	14,906
TOTAL CURRENT ASSETS	143,656	125,362
PROPERTY, PLANT AND EQUIPMENT:
Land	1,670	1,180
Buildings and yard improvements	28,550	8,582
Machinery and equipment	51,001	30,422
Construction in process	1,167	15,925
Less accumulated depreciation	(28,455)	(26,003)
Property, plant, and equipment, net	53,933	30,106
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	453	157
Operating lease right-of-use asset	1,270	113
Deferred income tax asset	0	2,133
Income taxes recoverable	0	1,404
TOTAL ASSETS	199,312	159,275
CURRENT LIABILITIES:
Accounts payable and accrued expenses	36,847	44,804
Income taxes payable	774	0
Dividends payable	148	137
Contribution to retirement plan	350	250
Employee compensation and related expenses	4,650	1,086
Current portion of financing lease	107	105
Current portion of derivative liability	2,212	14,429
TOTAL CURRENT LIABILITIES	45,088	60,811
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	96	119
DEFERRED INCOME TAX LIABILITY	4,357	0
OTHER NON-CURRENT LIABILITIES	1,222	222
ASSET BASED LENDING FACILITY	33,117	18,436
TOTAL LIABILITIES	83,880	79,588
COMMITMENTS AND CONTINGENCIES (SEE NOTE 12)
STOCKHOLDERS’ EQUITY:
Common stock, par value $1: Authorized shares — 10,000,000, Issued shares — 8,868,716 shares and 8,344,975 shares at March 31, 2023 and 2022, respectively :	8,869	8,345
Additional paid-in capital	35,005	30,442
Accumulated other comprehensive loss	(317)	(10,268)
Treasury stock at cost (1,493,128 shares and 1,488,966 shares at March 31, 2023 and 2022, respectively)	(7,778)	(7,741)
Retained earnings	79,653	58,909
TOTAL STOCKHOLDERS’ EQUITY	115,432	79,687
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 199,312	$ 159,275

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Allowances for bad debts and cash discounts	$ 183	$ 100
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	8,868,716	8,344,975
Treasury stock, shares (in shares)	1,493,128	1,488,966

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net sales	$ 547,542	$ 285,235
Costs and expenses:
Cost of products sold	504,457	244,248
Selling, general and administrative	22,011	12,467
Costs and Expenses	526,468	256,715
EARNINGS FROM OPERATIONS	21,074	28,520
Gain (loss) on economic hedges of risk	9,306	(11,636)
Interest expense	(2,218)	(255)
Other income	27	1,702
EARNINGS BEFORE INCOME TAXES	28,189	18,331
Provision for (benefit from) income taxes:
Current	3,519	4,826
Deferred	3,326	(561)
Income tax	6,845	4,265
NET EARNINGS	$ 21,344	$ 14,066
Net earnings per share:
Basic (in dollars per share)	$ 2.91	$ 2.04
Diluted (in dollars per share)	$ 2.91	$ 2.04

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net earnings	$ 21,344	$ 14,066
Other comprehensive income:
Cash flow hedges, net of tax	9,952	920
Other Comprehensive Income (Loss)	9,952	920
Comprehensive income	$ 31,296	$ 14,986

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	AOCI Attributable to Parent [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	Total
Balance at Mar. 31, 2021	$ 8,335	$ (11,189)	$ 30,003	$ (7,203)	$ 45,393	$ 65,339
Net earnings	0	0	0	0	14,066	14,066
Net current period other comprehensive income	0	920	0	0	0	920
Grants of restricted stock	10	0	(10)	0	0	0
Paid in capital – restricted stock units	0	0	449	0	0	449
Repurchase of shares	0	0	0	(538)	0	(538)
Cash dividends	0	0	0	0	(550)	(550)
Balance at Mar. 31, 2022	8,345	(10,269)	30,442	(7,741)	58,909	79,687
Net earnings	0	0	0	0	21,344	21,344
Net current period other comprehensive income	0	9,952	0	0	0	9,952
Grants of restricted stock	8	0	(8)	0	0	0
Paid in capital – restricted stock units	0	0	303	0	0	303
Repurchase of shares	0	0	0	(37)	0	(37)
Cash dividends	0	0	0	0	(600)	(600)
Shares issued - Plateplus business combination	516	0	4,268	0	0	4,784
Balance at Mar. 31, 2023	$ 8,869	$ (317)	$ 35,005	$ (7,778)	$ 79,653	$ 115,432

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash dividends, per share (in dollars per share)	$ 0.08	$ 0.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES
Net earnings	$ 21,344	$ 14,066
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation	2,526	1,320
Deferred taxes	3,326	(561)
Compensation expense for restricted stock	303	449
Change in post-retirement benefits	8	11
Loss recognized on open derivatives not designated for hedge accounting	459	1,217
Deferred realized gain on derivatives designated for hedge accounting	4,773	1,343
Forgiveness of Paycheck Protection Program Loan	0	(1,707)
Changes in operating assets and liabilities, net of amounts acquired in business combination:
Accounts receivable	(13,696)	(15,293)
Inventories	59,247	(31,930)
Federal income taxes recoverable	1,404	(1,404)
Other current assets	(1,363)	(123)
Accounts payable and accrued expenses	(18,875)	22,028
Income taxes payable	774	(1,455)
Employee compensation and related expenses	3,564	(1,558)
Contribution to retirement plan	100	200
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	63,894	(13,397)
INVESTING ACTIVITIES
Purchase of property, plant and equipment	(16,454)	(8,065)
Proceeds from sale of assets	0	161
Increase in cash value of officers’ life insurance	(13)	(14)
NET CASH USED IN INVESTING ACTIVITIES	(88,187)	(7,918)
FINANCING ACTIVITIES
Debt issuance cost	(393)	0
Cash dividends paid	(589)	(551)
Cash paid for principal portion of finance lease	(105)	(103)
Cash paid for share repurchases	(37)	(538)
Asset based lending facility proceeds	14,681	18,437
NET CASH PROVIDED BY FINANCING ACTIVITIES	13,557	17,245
DECREASE IN CASH AND RESTRICTED CASH	(10,736)	(4,070)
CASH AND RESTRICTED CASH AT BEGINNING OF YEAR	16,122	20,192
CASH AND RESTRICTED CASH AT END OF YEAR	5,386	16,122
Plateplus Inc. [Member]
INVESTING ACTIVITIES
Plateplus business combination	$ (71,720)	$ 0

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. BASIS OF CONSOLIDATION: RECLASSIFICATIONS: may Interest expense Earnings From Operations Other income (loss) Gain (loss) on economic hedges of risk no BUSINESS COMBINATIONS: 2 March 31, 2023. REVENUE RECOGNITION: 14 TRADE RECEIVABLES: third 30 March 31, 2023 2022, INVENTORIES: not 2023 2022 not no The following is a summary of inventory by product group (in thousands): March 31, 2023 2022 Prime coil inventory $ 75,917 $ 50,482 Non-standard coil inventory 278 1,063 Tubular raw material 5,193 9,050 Tubular finished goods 4,858 7,351 $ 86,246 $ 67,946 Tubular raw material inventory consists of hot-rolled steel coils that the Company will manufacture into pipe. Tubular finished goods inventory consists of pipe the Company has manufactured. DERIVATIVE INSTRUMENTS: may changes in fair value are recognized in the same balance sheet line as the hedged item until the hedged item affects earnings not not 815 7 f PROPERTY, PLANT AND EQUIPMENT: Buildings (in years) 20 40 Machinery and equipment (in years) 10 to 35 Yard improvements (in years) 5 to 15 Loaders and other rolling stock (in years) 5 to 15 The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amount may not not 2023 2022 . When property, plant and equipment is sold or otherwise disposed of, any gains or losses are reflected in income. If a loss on disposal is expected, such losses are recognized when the assets are reclassified as assets held for sale. Maintenance and repairs are expensed as incurred. PAYCHECK PROTECTION PROGRAM LOAN: 2022, 2022. POSTRETIREMENT BENEFITS OTHER THAN PENSIONS: March 31, 2023 2022, SHIPPING COSTS: SUPPLEMENTAL CASH FLOW INFORMATION: 2023 2022 2023 $8.3 million, net of a tax refund of approximately $0.4 million, 2022 March 31, 2022, not 2023. 2023, 2, 2023, INCOME TAXES: The Company has also analyzed tax positions taken on tax returns filed and does not not USE OF ESTIMATES: 2. FINANCIAL INSTRUMENTS: EARNINGS PER SHARE: The Company uses the two no not ECONOMIC RELATIONSHIP: Coil segment sales to O'Neal Steel accounted for approximately 15% and 11% of total Company sales in fiscal 2023 2022, No 10% The Company’s sales are concentrated primarily in the midwestern, southwestern, and southeastern regions of the United States and are primarily to customers in the steel distributing and fabricating industries. The Company performs periodic credit evaluations of the financial conditions of its customers and generally does not 30

Note 2 - Business Combinations

Note 2 - Business Combinations	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. On April 30, 2022, ( The Transaction resulted in the Company acquiring the assets noted above, for a total consideration of $76.5 million, of which $71.7 million was cash consideration and $4.8 million related to 516,041 shares of the Company's common stock issued to the Seller. The fair value of the 516,041 shares issued was determined based on the closing market price of the Company’s common stock on April 29, 2022, September 30, 2022 The Transaction was accounted for using the acquisition method of accounting, in accordance with Topic 805, Business Combinations Fair value of assets acquired and liabilities assumed (in thousands) Inventory $ 77,546 Property, plant and equipment 18,022 Operating lease right-of-use asset 1,237 Accounts payable (19,065 ) Operating lease liability (1,237 ) Total $ 76,503 The following unaudited pro forma consolidated operating results (in thousands) give effect to the Transaction as if it had been completed as of April 1, 2021. not Year Ended March 31, 2023 2022 Net sales $ 566,942 $ 535,895 Earnings from operations $ 20,793 $ 17,862 Our consolidated statement of operations for fiscal 2023 August 31, 2022. 2023 not 2023, 4.

Note 3 - Equity Compensation Pl

Note 3 - Equity Compensation Plans and Capital Stock	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	3. EQUITY COMPENSATION PLANS AND CAPITAL STOCK The Company maintains the Friedman Industries, Incorporated 2016 may, The following table summarizes the activity related to restricted stock units ("RSUs") for the two March 31, 2023 : Weighted Average Grant Number of Date Fair Value Shares Per Share Unvested at March 31, 2021 339,625 $ 6.07 Granted 10,190 12.56 Vested (210,292 ) 6.46 Unvested at March 31, 2022 139,523 $ 5.96 Granted 7,700 9.10 Vested (46,857 ) 6.21 Unvested at March 31, 2023 100,366 $ 6.08 We measure compensation expense for RSUs at the market price of our common stock as of the grant date. Compensation expense is recognized over the requisite service period applicable to each award. The Company recorded compensation expense of approximately $0.3 million and $0.4 million in fisca l 2023 and fiscal 2022 , lan. At March 31, 2023 and 2022 years and 2.2 years, respectively. As of March 31, 2023 , a total of 122,485 shares were still available to be issued under the Plan. The Company has 1,000,000 authorized shares of Cumulative Preferred Stock with a par value of $1 per share. The stock may one March 31, 2023 or March 31, 2022 . Effective June 25, 2020, June 30, 2023. not 2023 2022 2023 2022,

Note 4 - Debt

Note 4 - Debt	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	4. On June 22, 2021, 2022. On March 8, 2021, July 15, 2021 April 12, 2021, first $10 May 19, 2021, March 11, 2022, first April 29, 2022, July 6, 2022, one third May 19, 2026 1.00 twelve may March 31, 2023, March 31, 2023, The Company incurred debt issuance costs of approximately $0.2 million in connection with the Second Amendment to the ABL Facility and approximately $0.2 million in connection with the Third Amendment to the ABL Facility. The Company recorded these debt issuance costs as non-current other assets and will amortize these costs on an equal monthly basis over the remaining term of the ABL facility.

Note 5 - Leases

Note 5 - Leases	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	5. The Company was assigned an operating lease associated with the real property and leasehold improvements for the Granite City, IL facility acquired from Plateplus pursuant to the transaction disclosed in Note 2. August 31, 2023 2023 April 30, 2024. In October 2019, The components of expense related to leases were as follows for the fiscal years ende d March 31, 2023 and 2022 (in thousands): Fiscal 2023 Fiscal 2022 Finance lease – amortization of ROU asset $ 105 $ 103 Finance lease – interest on lease liability 4 6 Operating lease expense 127 58 $ 236 $ 167 The following table illustrates the balance sheet classification for ROU assets and lease liabilities as o f March 31, 2023 and 2022 (in thousands): March 31, 2023 March 31, 2022 Balance Sheet Classification Assets Operating lease right-of-use asset $ 1,270 $ 113 Operating lease right-of-use asset Finance lease right-of-use asset 430 456 Property, plant & equipment Total right-of-use assets $ 1,700 $ 569 Liabilities Operating lease liability, current $ 101 $ 52 Accrued expenses Finance lease liability, current 107 105 Current portion of finance lease Operating lease liability, non-current 1,168 61 Other non-current liabilities Finance lease liability, non-current 54 161 Other non-current liabilities Total lease liabilities $ 1,430 $ 379 As of March 31, 2023 , t Maturities of lease liabilities as of March 31, 2023 Operating Finance Leases Leases Fiscal 2024 134 109 Fiscal 2025 80 54 Fiscal 2026 75 — Fiscal 2027 75 — Fiscal 2028 and beyond 1,237 — Total undiscounted lease payments $ 1,601 $ 163 Less: imputed interest (332 ) (2 ) Present value of lease liability $ 1,269 $ 161

Note 6 - Property, Plant and Eq

Note 6 - Property, Plant and Equipment	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6. On May 25, 2021, $1. 1” 96” 100,000 October 2022 During the twelve March 31, 2022, no twelve March 31, 2022, 2023, not Depreciation expense was approximately and $1.3 million for fiscal 2023 2022,

Note 7 - Derivative Financial I

Note 7 - Derivative Financial Instruments	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. From time to time, we expect to utilize derivative financial instruments to minimize our exposure to commodity price risk that is inherent in our business. At the time derivative contracts are entered into, we assess whether the nature of the instrument qualifies for hedge accounting treatment according to the requirements of ASC 815 815” attempts to minimize From time to time, derivatives designated for hedge accounting may If it is determined that hedged transactions associated with cash flow hedges are no From time to time, we may not The Company has forward physical purchase supply agreements in place for a portion of its monthly physical steel needs. These supply agreements are not 815. During fiscal 2023 2022, 2023 2022, September 30, 2021, no December 31, 2021 no 2022 2023 2022, not The following table summarizes the fair value of the Company’s derivative financial instruments and the respective line in which they were recorded in the Consolidated Balance Sheet as of March 31, 2023 Asset Derivatives Liability Derivatives Balance Sheet Balance Sheet Derivatives not designated as hedging instruments: Location Fair Value Location Fair Value Hot-rolled coil steel contracts Current portion of derivative assets $ 536 Current portion of derivative liability $ 2,212 The following table summarizes the fair value of the Company’s derivative financial instruments and the respective line in which they were recorded in the Consolidated Balance Sheet as of March 31, 2022 Asset Derivatives Liability Derivatives Balance Sheet Balance Sheet Derivatives designated as cash flow hedges: Location Fair Value Location Fair Value Hot-rolled coil steel contracts hedging sales Current portion of derivative liability $ 8,905 Derivatives not designated as hedging instruments: Hot-rolled coil steel contracts Current portion of derivative assets $ 4,241 Current portion of derivative liability $ 5,524 All derivatives are presented on a gross basis on the Consolidated Balance Sheet. At March 31, 2023, March 2023 March 31, 2022, March 2022 The Company did not March 31, 2023. The following table summarizes the pre-tax gain (loss) recognized in other comprehensive income and the gain (loss) reclassified from accumulated other comprehensive income into earnings for derivative financial instruments designated as cash flow hedges for the twelve March 31, 2023 2022 Pre- Tax Gain Location of Gain (Loss) (Loss) Reclassified Pre-Tax Gain Reclassified from (Loss) from AOCI into Net AOCI into Net Recognized in OCI Earnings Earnings For the twelve months ended March 31, 2023 Hot-rolled coil steel contracts $ 9,005 Sales $ (4,116 ) Total $ 9,005 $ (4,116 ) For the twelve months ended March 31, 2022 Hot-rolled coil steel contracts $ (19,908 ) Sales $ (31,753 ) Costs of goods sold 10,633 Total $ (19,908 ) $ (21,120 ) The estimated amount of losses recognized in AOCI at March 31, 2023 twelve The following table summarizes the gain recognized in earnings for derivative instruments not 2023 Gain Recognized in Earnings Location of Gain for Fiscal Year Ended Recognized in Earnings March 31, 2023 Hot-rolled coil steel contracts Gain (loss) on economic hedges of risk $ 9,306 The following table summarizes the loss recognized in earnings for derivative instruments not 2022 Loss Recognized in Earnings Location of Loss for Fiscal Year Ended Recognized in Earnings March 31, 2022 Hot-rolled coil steel contracts Gain (loss) on economic hedges of risk $ (11,636 ) The notional amount (quantity) of our derivative instruments not March 31, 2023 April 2023 December 2023. The following tables reflect the change in accumulated other comprehensive loss, net of tax, for the periods presented (in thousands): Gain (Loss) on Derivatives Balance at March 31, 2022 $ (10,269 ) Other comprehensive income, net of loss, before reclassification 6,830 Total loss reclassified from AOCI (1) 3,122 Net current period other comprehensive income 9,952 Balance at March 31, 2023 (317 ) ( 1 March 31, 2023. Gain (Loss) on Derivatives Balance at March 31, 2021 (11,189 ) Other comprehensive loss, net of income, before reclassification (15,098 ) Total loss reclassified from AOCI (1) 16,018 Net current period other comprehensive income 920 Balance at March 31, 2022 (10,269 ) ( 1 March 31, 2022. At March 31, 2023 2022, and $13.5 million, respectively, was held by our clearing agent to collateralize our open derivative positions. These cash March 31, 2023 2022.

Note 8 - Fair Value Measurement

Note 8 - Fair Value Measurements	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Accounting standards provide a comprehensive framework for measuring fair value and sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. Levels within the hierarchy are defined as follows: ● Level 1 ● Level 2 1 ● Level 3 no Recurring Fair Value Measurements At March 31, 2023, Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total Commodity futures – financial liabilities, net $ (1,676 ) $ — $ — $ (1,676 ) Total $ (1,676 ) $ — $ — $ (1,676 ) At March 31, 2022, Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total Commodity futures – financial liabilities, net $ (10,188 ) $ — $ — $ (10,188 ) Total $ (10,188 ) $ — $ — $ (10,188 ) At March 31, 2023 2022, not

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	9. Basic and dilutive net earnings per share is computed based on the following information (in thousands, except for share data): Year Ended March 31, 2023 2022 Numerator (basic and diluted) Net earnings $ 21,344 $ 14,066 Less: Allocation to unvested restricted stock units 329 543 Net earnings attributable to common shareholders $ 21,015 $ 13,523 Denominator (basic and diluted) Weighted average common shares outstanding 7,216,142 6,623,769 For fiscal 2023 2022, As the restricted stock qualifies as participating securities, the following restricted stock units were not two Year Ended March 31, 2023 2022 Restricted Stock Units 55,546 76,424

Note 10 - Income Taxes

Note 10 - Income Taxes	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. Components of tax expense (benefit) are as follows (in thousands): Year Ended March 31, 2023 2022 Federal Current $ 2,135 $ 3,881 Deferred 3,425 (478 ) 5,560 3,403 State Current 1,384 945 Deferred (99 ) (83 ) 1,285 862 Total $ 6,845 $ 4,265 The U.S. federal statutory income tax rate is reconciled to the effective rate as follows: Year Ended March 31, 2023 2022 Income tax expense at U.S. federal statutory rate 21.0 % 21.0 % Current year state and local income taxes net of federal income tax benefit 3.5 3.7 Other (0.3 ) (1.4 ) Provision for income taxes 24.2 % 23.3 % The Company’s tax returns may March 31, 2020 March 31, 2022. may March 31, 2019 March 31, 2022. Deferred income taxes are provided for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s consolidated deferred tax assets (liabilities) are as follows (in thousands): March 31, 2023 2022 Deferred tax liabilities: Depreciation $ (5,786 ) $ (1,788 ) Total deferred tax liabilities (5,786 ) (1,788 ) Deferred tax assets: Unrealized derivative loss - OCI 106 3,271 Inventory capitalization 548 98 Postretirement benefits other than pensions 25 29 Restricted stock compensation 91 69 Unrealized loss - mark to market derivatives 526 388 Other 133 66 Total deferred tax assets 1,429 3,921 Net deferred tax asset (liability) $ (4,357 ) $ 2,133

Note 11 - Other Comprehensive I

Note 11 - Other Comprehensive Income (Loss)	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	11. The following table summarizes the tax effects on each c omponent of Other Comprehensive Income for the periods presented (in thousands): Twelve Months Ended March 31, 2023 Before-Tax Tax Provision Net-of-Tax Cash flow hedges $ 13,121 $ (3,169 ) $ 9,952 Other comprehensive income $ 13,121 $ (3,169 ) $ 9,952 Twelve Months Ended March 31, 2022 Before-Tax Tax Provision Net-of-Tax Cash flow hedges $ 1,212 $ (292 ) $ 920 Other comprehensive income $ 1,212 $ (292 ) $ 920

Note 12 - Retirement Plan

Note 12 - Retirement Plan	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	12 . RETIREMENT PLAN The Company maintains the Friedman Industries, Inc. Employees’ Retirement and 401 six The retirement portion of the Plan covers substantially all employees, including officers. The Company’s contribution expenses, which are determined at the discretion of the Board of Directors in an amount not March 31, 2023 2022, Employees may 401 six may 401 $0.1 million in each of March 31, 2023 2022

Note 13 - Industry Segment Data

Note 13 - Industry Segment Data	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13 . INDUSTRY SEGMENT DATA The Company is engaged in the steel processing, pipe manufacturing and processing and steel and pipe distribution business. Within the Company, there are two Year Ended March 31, 2023 2022 NET SALES: Coil $ 485,641 $ 230,438 Tubular 61,901 54,797 TOTAL NET SALES $ 547,542 $ 285,235 OPERATING PROFIT: Coil $ 23,421 $ 31,791 Tubular 8,641 2,424 TOTAL OPERATING PROFIT 32,062 34,215 General corporate expenses (10,988 ) (5,695 ) Gain (loss) on economic hedges of risk 9,306 (11,636 ) Interest expense (2,218 ) (255 ) Other income 27 1,702 TOTAL EARNINGS BEFORE INCOME TAXES $ 28,189 $ 18,331 IDENTIFIABLE ASSETS: Coil $ 179,780 $ 115,232 Tubular 15,858 24,017 195,638 139,249 General corporate assets 3,674 20,026 TOTAL ASSETS $ 199,312 $ 159,275 DEPRECIATION: Coil $ 2,097 $ 974 Tubular 330 330 Corporate and other 99 16 $ 2,526 $ 1,320 CAPITAL EXPENDITURES (excluding $18,000 of assets acquired through business combination - see Note 2): Coil $ 16,328 $ 8,005 Tubular 125 21 Corporate and other 1 39 $ 16,454 $ 8,065 Operating profit is total net sales less operating expenses, excluding general corporate expenses, gain (loss) on economic hedges, interest expense and other income. General corporate expenses reflect general and administrative expenses not orate insurance expenses, restricted stock plan compensation expense and office supplies. Other income for fiscal 2022 March 31, 2023 and 2022 , corporate assets consisted primarily of cash, restricted cash though inventory is transferred at cost between product groups, there are no

Note 14 - Revenue

Note 14 - Revenue	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	14. Revenue is generated primarily from contracts to manufacture or process steel products. Most of the Company’s revenue is generated by sales of material out of the Company’s inventory but a portion of the Company’s revenue is derived from processing and storage of customer owned material. Generally, the Company’s performance obligations are satisfied, control of our products is transferred, and revenue is recognized at a single point in time, when title transfers to our customer for product shipped or when services are provided. Revenues are recorded net of any sales incentives. Shipping and other transportation costs charged to customers are treated as fulfillment activities and are recorded in both revenue and cost of sales at the time control is transferred to the customer. Costs related to obtaining sales contracts are incidental and expensed when incurred. Because customers are invoiced at the time title transfers and the Company’s rights to consideration are unconditional at that time, the Company does not not The Company has two three two March 2020, August 2020. June 30, 2022, 2023. The following table disaggregates our revenue by product for each of our reportable business segments for the fiscal years ended March 31, 2023 2022 Fiscal Year Ended March 31, 2023 2022 Coil Segment: Prime Coil $ 479,316 $ 219,483 Non-standard Coil 3,574 9,597 Processing or Storage of Customer Owned Coil 2,751 1,358 $ 485,641 $ 230,438 Tubular Segment: Manufactured Pipe $ 61,451 $ 44,485 Mill Reject Pipe 450 10,312 $ 61,901 $ 54,797

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS FRIEDMAN INDUSTRIES, INCORPORATED (In thousands) Description Balance at Beginning Balance at of Period Additions (A) Deductions End of Period Year ended March 31, 2023 Allowance for doubtful accounts receivable and cash discounts (deducted from related asset account) $ 85 $ 98 — $ 183 Year ended March 31, 2022 Allowance for doubtful accounts receivable and cash discounts (deducted from related asset account) $ 18 $ 67 — $ 85 (A) Additions consist of charges to bad debt expense of approximately $98 and $67 during fiscal years 2023 2022

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	BASIS OF CONSOLIDATION:
Reclassification, Comparability Adjustment [Policy Text Block]	RECLASSIFICATIONS: may Interest expense Earnings From Operations Other income (loss) Gain (loss) on economic hedges of risk no
Business Combinations Policy [Policy Text Block]	BUSINESS COMBINATIONS: 2 March 31, 2023.
Revenue [Policy Text Block]	REVENUE RECOGNITION: 14
Accounts Receivable [Policy Text Block]	TRADE RECEIVABLES: third 30 March 31, 2023 2022,
Inventory, Policy [Policy Text Block]	INVENTORIES: not 2023 2022 not no The following is a summary of inventory by product group (in thousands): March 31, 2023 2022 Prime coil inventory $ 75,917 $ 50,482 Non-standard coil inventory 278 1,063 Tubular raw material 5,193 9,050 Tubular finished goods 4,858 7,351 $ 86,246 $ 67,946 Tubular raw material inventory consists of hot-rolled steel coils that the Company will manufacture into pipe. Tubular finished goods inventory consists of pipe the Company has manufactured.
Derivatives, Policy [Policy Text Block]	DERIVATIVE INSTRUMENTS: may changes in fair value are recognized in the same balance sheet line as the hedged item until the hedged item affects earnings not not 815 7 f
Property, Plant and Equipment, Policy [Policy Text Block]	PROPERTY, PLANT AND EQUIPMENT: Buildings (in years) 20 40 Machinery and equipment (in years) 10 to 35 Yard improvements (in years) 5 to 15 Loaders and other rolling stock (in years) 5 to 15 The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amount may not not 2023 2022 . When property, plant and equipment is sold or otherwise disposed of, any gains or losses are reflected in income. If a loss on disposal is expected, such losses are recognized when the assets are reclassified as assets held for sale. Maintenance and repairs are expensed as incurred.
Debt, Policy [Policy Text Block]	PAYCHECK PROTECTION PROGRAM LOAN: 2022, 2022.
Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block]	POSTRETIREMENT BENEFITS OTHER THAN PENSIONS: March 31, 2023 2022,
Shipping Costs [Policy Text Block]	SHIPPING COSTS:
Supplemental Cash Flow Information [Policy Text Block]	SUPPLEMENTAL CASH FLOW INFORMATION: 2023 2022 2023 $8.3 million, net of a tax refund of approximately $0.4 million, 2022 March 31, 2022, not 2023. 2023, 2, 2023,
Income Tax, Policy [Policy Text Block]	INCOME TAXES: The Company has also analyzed tax positions taken on tax returns filed and does not not
Use of Estimates, Policy [Policy Text Block]	USE OF ESTIMATES: 2.
Fair Value of Financial Instruments, Policy [Policy Text Block]	FINANCIAL INSTRUMENTS:
Earnings Per Share, Policy [Policy Text Block]	EARNINGS PER SHARE: The Company uses the two no not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	ECONOMIC RELATIONSHIP: Coil segment sales to O'Neal Steel accounted for approximately 15% and 11% of total Company sales in fiscal 2023 2022, No 10% The Company’s sales are concentrated primarily in the midwestern, southwestern, and southeastern regions of the United States and are primarily to customers in the steel distributing and fabricating industries. The Company performs periodic credit evaluations of the financial conditions of its customers and generally does not 30

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2023 2022 Prime coil inventory $ 75,917 $ 50,482 Non-standard coil inventory 278 1,063 Tubular raw material 5,193 9,050 Tubular finished goods 4,858 7,351 $ 86,246 $ 67,946
Property, Plant and Equipment [Table Text Block]	Buildings (in years) 20 40 Machinery and equipment (in years) 10 to 35 Yard improvements (in years) 5 to 15 Loaders and other rolling stock (in years) 5 to 15

Note 2 - Business Combinations

Note 2 - Business Combinations (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Fair value of assets acquired and liabilities assumed (in thousands) Inventory $ 77,546 Property, plant and equipment 18,022 Operating lease right-of-use asset 1,237 Accounts payable (19,065 ) Operating lease liability (1,237 ) Total $ 76,503
Business Acquisition, Pro Forma Information [Table Text Block]	Year Ended March 31, 2023 2022 Net sales $ 566,942 $ 535,895 Earnings from operations $ 20,793 $ 17,862

Note 3 - Equity Compensation _2

Note 3 - Equity Compensation Plans and Capital Stock (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Nonvested Restricted Stock Shares Activity [Table Text Block]	Weighted Average Grant Number of Date Fair Value Shares Per Share Unvested at March 31, 2021 339,625 $ 6.07 Granted 10,190 12.56 Vested (210,292 ) 6.46 Unvested at March 31, 2022 139,523 $ 5.96 Granted 7,700 9.10 Vested (46,857 ) 6.21 Unvested at March 31, 2023 100,366 $ 6.08

Note 5 - Leases (Tables)

Note 5 - Leases (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Balance Sheet Information Related to Operating Leases [Table Text Block]	Fiscal 2023 Fiscal 2022 Finance lease – amortization of ROU asset $ 105 $ 103 Finance lease – interest on lease liability 4 6 Operating lease expense 127 58 $ 236 $ 167 March 31, 2023 March 31, 2022 Balance Sheet Classification Assets Operating lease right-of-use asset $ 1,270 $ 113 Operating lease right-of-use asset Finance lease right-of-use asset 430 456 Property, plant & equipment Total right-of-use assets $ 1,700 $ 569 Liabilities Operating lease liability, current $ 101 $ 52 Accrued expenses Finance lease liability, current 107 105 Current portion of finance lease Operating lease liability, non-current 1,168 61 Other non-current liabilities Finance lease liability, non-current 54 161 Other non-current liabilities Total lease liabilities $ 1,430 $ 379
Operating and Finance Lease, Liability, Maturity [Table Text Block]	Operating Finance Leases Leases Fiscal 2024 134 109 Fiscal 2025 80 54 Fiscal 2026 75 — Fiscal 2027 75 — Fiscal 2028 and beyond 1,237 — Total undiscounted lease payments $ 1,601 $ 163 Less: imputed interest (332 ) (2 ) Present value of lease liability $ 1,269 $ 161

Note 7 - Derivative Financial_2

Note 7 - Derivative Financial Instruments (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	Asset Derivatives Liability Derivatives Balance Sheet Balance Sheet Derivatives not designated as hedging instruments: Location Fair Value Location Fair Value Hot-rolled coil steel contracts Current portion of derivative assets $ 536 Current portion of derivative liability $ 2,212 Asset Derivatives Liability Derivatives Balance Sheet Balance Sheet Derivatives designated as cash flow hedges: Location Fair Value Location Fair Value Hot-rolled coil steel contracts hedging sales Current portion of derivative liability $ 8,905 Derivatives not designated as hedging instruments: Hot-rolled coil steel contracts Current portion of derivative assets $ 4,241 Current portion of derivative liability $ 5,524
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Pre- Tax Gain Location of Gain (Loss) (Loss) Reclassified Pre-Tax Gain Reclassified from (Loss) from AOCI into Net AOCI into Net Recognized in OCI Earnings Earnings For the twelve months ended March 31, 2023 Hot-rolled coil steel contracts $ 9,005 Sales $ (4,116 ) Total $ 9,005 $ (4,116 ) For the twelve months ended March 31, 2022 Hot-rolled coil steel contracts $ (19,908 ) Sales $ (31,753 ) Costs of goods sold 10,633 Total $ (19,908 ) $ (21,120 )
Derivative Instruments, Gain (Loss) [Table Text Block]	Gain Recognized in Earnings Location of Gain for Fiscal Year Ended Recognized in Earnings March 31, 2023 Hot-rolled coil steel contracts Gain (loss) on economic hedges of risk $ 9,306 Loss Recognized in Earnings Location of Loss for Fiscal Year Ended Recognized in Earnings March 31, 2022 Hot-rolled coil steel contracts Gain (loss) on economic hedges of risk $ (11,636 )
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Gain (Loss) on Derivatives Balance at March 31, 2022 $ (10,269 ) Other comprehensive income, net of loss, before reclassification 6,830 Total loss reclassified from AOCI (1) 3,122 Net current period other comprehensive income 9,952 Balance at March 31, 2023 (317 ) Gain (Loss) on Derivatives Balance at March 31, 2021 (11,189 ) Other comprehensive loss, net of income, before reclassification (15,098 ) Total loss reclassified from AOCI (1) 16,018 Net current period other comprehensive income 920 Balance at March 31, 2022 (10,269 )

Note 8 - Fair Value Measureme_2

Note 8 - Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total Commodity futures – financial liabilities, net $ (1,676 ) $ — $ — $ (1,676 ) Total $ (1,676 ) $ — $ — $ (1,676 ) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total Commodity futures – financial liabilities, net $ (10,188 ) $ — $ — $ (10,188 ) Total $ (10,188 ) $ — $ — $ (10,188 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended March 31, 2023 2022 Numerator (basic and diluted) Net earnings $ 21,344 $ 14,066 Less: Allocation to unvested restricted stock units 329 543 Net earnings attributable to common shareholders $ 21,015 $ 13,523 Denominator (basic and diluted) Weighted average common shares outstanding 7,216,142 6,623,769
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Year Ended March 31, 2023 2022 Restricted Stock Units 55,546 76,424

Note 10 - Income Taxes (Tables)

Note 10 - Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended March 31, 2023 2022 Federal Current $ 2,135 $ 3,881 Deferred 3,425 (478 ) 5,560 3,403 State Current 1,384 945 Deferred (99 ) (83 ) 1,285 862 Total $ 6,845 $ 4,265
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended March 31, 2023 2022 Income tax expense at U.S. federal statutory rate 21.0 % 21.0 % Current year state and local income taxes net of federal income tax benefit 3.5 3.7 Other (0.3 ) (1.4 ) Provision for income taxes 24.2 % 23.3 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	March 31, 2023 2022 Deferred tax liabilities: Depreciation $ (5,786 ) $ (1,788 ) Total deferred tax liabilities (5,786 ) (1,788 ) Deferred tax assets: Unrealized derivative loss - OCI 106 3,271 Inventory capitalization 548 98 Postretirement benefits other than pensions 25 29 Restricted stock compensation 91 69 Unrealized loss - mark to market derivatives 526 388 Other 133 66 Total deferred tax assets 1,429 3,921 Net deferred tax asset (liability) $ (4,357 ) $ 2,133

Note 11 - Other Comprehensive_2

Note 11 - Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Twelve Months Ended March 31, 2023 Before-Tax Tax Provision Net-of-Tax Cash flow hedges $ 13,121 $ (3,169 ) $ 9,952 Other comprehensive income $ 13,121 $ (3,169 ) $ 9,952 Twelve Months Ended March 31, 2022 Before-Tax Tax Provision Net-of-Tax Cash flow hedges $ 1,212 $ (292 ) $ 920 Other comprehensive income $ 1,212 $ (292 ) $ 920

Note 13 - Industry Segment Da_2

Note 13 - Industry Segment Data (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Year Ended March 31, 2023 2022 NET SALES: Coil $ 485,641 $ 230,438 Tubular 61,901 54,797 TOTAL NET SALES $ 547,542 $ 285,235 OPERATING PROFIT: Coil $ 23,421 $ 31,791 Tubular 8,641 2,424 TOTAL OPERATING PROFIT 32,062 34,215 General corporate expenses (10,988 ) (5,695 ) Gain (loss) on economic hedges of risk 9,306 (11,636 ) Interest expense (2,218 ) (255 ) Other income 27 1,702 TOTAL EARNINGS BEFORE INCOME TAXES $ 28,189 $ 18,331 IDENTIFIABLE ASSETS: Coil $ 179,780 $ 115,232 Tubular 15,858 24,017 195,638 139,249 General corporate assets 3,674 20,026 TOTAL ASSETS $ 199,312 $ 159,275 DEPRECIATION: Coil $ 2,097 $ 974 Tubular 330 330 Corporate and other 99 16 $ 2,526 $ 1,320 CAPITAL EXPENDITURES (excluding $18,000 of assets acquired through business combination - see Note 2): Coil $ 16,328 $ 8,005 Tubular 125 21 Corporate and other 1 39 $ 16,454 $ 8,065

Note 14 - Revenue (Tables)

Note 14 - Revenue (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Fiscal Year Ended March 31, 2023 2022 Coil Segment: Prime Coil $ 479,316 $ 219,483 Non-standard Coil 3,574 9,597 Processing or Storage of Customer Owned Coil 2,751 1,358 $ 485,641 $ 230,438 Tubular Segment: Manufactured Pipe $ 61,451 $ 44,485 Mill Reject Pipe 450 10,312 $ 61,901 $ 54,797

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Mar. 31, 2023
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Description Balance at Beginning Balance at of Period Additions (A) Deductions End of Period Year ended March 31, 2023 Allowance for doubtful accounts receivable and cash discounts (deducted from related asset account) $ 85 $ 98 — $ 183 Year ended March 31, 2022 Allowance for doubtful accounts receivable and cash discounts (deducted from related asset account) $ 18 $ 67 — $ 85

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2021	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Derivative, Gain (Loss) on Derivative, Net		$ (9,900,000)		$ 9,306,000	$ (11,636,000)
Accounts Receivable, Allowance for Credit Loss				200,000	100,000
Gain (Loss) on Extinguishment of Debt				0	1,707,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities				2,000,000	200,000
Income Taxes Paid, Net				400,000	8,300,000
Proceeds from Income Tax Refunds					400,000
Construction in Progress, Gross				1,167,000	15,925,000
Capital Expenditures Incurred but Not yet Paid					$ 8,100,000
Transfer of Ownership of Life Insurance Policy				31,000
Unrecognized Tax Benefits, Ending Balance				$ 0
Customer Concentration Risk [Member] | Revenue, Product and Service Benchmark [Member] | O'Neal Steel [Member]
Concentration Risk, Percentage				15%	11%
Plateplus Inc. [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	516,041			516,041
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable			$ 4,800,000	$ 4,800,000
Life Insurance Policies Transfer [Member]
Liability, Other Retirement Benefits				100,000	$ 100,000
Other Income [Member]
Gain (Loss) on Extinguishment of Debt					$ 1,700,000
Reclassified from Other income (loss) to Gain (loss) on Economic Hedges of Risk [Member]
Derivative, Gain (Loss) on Derivative, Net				$ (11,600,000)

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Summary of Inventory by Product Group (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Inventory, Net	$ 86,246	$ 67,946
Prime Coil Inventory [Member]
Raw materials	75,917	50,482
Non-standard Coil Inventory [Member]
Raw materials	278	1,063
Tubular Inventory [Member]
Raw materials	5,193	9,050
Finished goods	$ 4,858	$ 7,351

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives of Various Classes of Assets (Details)	Mar. 31, 2023
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	35 years
Yard Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Yard Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Loaders and Other Rolling Stock [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Loaders and Other Rolling Stock [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years

Note 2 - Business Combination_2

Note 2 - Business Combinations (Details Textual) - Plateplus Inc. [Member] - USD ($) $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2022	Sep. 30, 2022	Dec. 31, 2022	Mar. 31, 2023
Business Combination, Consideration Transferred, Total	$ 76,500
Payments to Acquire Businesses, Gross	$ 71,700
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable			$ 4,800	$ 4,800
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	516,041			516,041
Goodwill, Ending Balance	$ 0
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				$ 237,600
Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs				1,200
East Chicago and Granite City [Member]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				19,000
Houston and Loudon [Member]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				43,400
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				$ 300
ABL Facility [Member] | JPMorgan Chase Bank N.A. [Member]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 64,000	$ 7,900

Note 2 - Business Combination_3

Note 2 - Business Combinations - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Plateplus Inc. [Member] $ in Thousands	Apr. 30, 2022 USD ($)
Inventory	$ 77,546
Property, plant and equipment	18,022
Business combination, operating lease right-of-use asset	1,237
Accounts payable	(19,065)
Operating lease liability	(1,237)
Total	$ 76,503

Note 2 - Business Combination_4

Note 2 - Business Combinations - Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net sales	$ 566,942	$ 535,895
Earnings from operations	$ 20,793	$ 17,862

Note 3 - Equity Compensation _3

Note 3 - Equity Compensation Plans and Capital Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 25, 2020	Sep. 01, 2016
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)			1,062,067
Treasury Stock, Shares, Acquired (in shares)	0	0
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings (in shares)	4,162	52,235
Cumulative Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	1,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 1
Preferred Stock, Shares Issued (in shares)	0	0
2016 Restricted Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)				500,000
2016 Restricted Stock Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expense	$ 0.3	$ 0.4
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 0.3	$ 0.5
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 4 months 24 days	2 years 2 months 12 days
2016 Restricted Stock Plan [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	122,485

Note 3 - Equity Compensation _4

Note 3 - Equity Compensation Plans and Capital Stock - Restricted Stock Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Unvested (in shares)	139,523	339,625
Unvested (in dollars per share)	$ 5.96	$ 6.07
Granted (in shares)	7,700	10,190	[1]
Granted (in dollars per share)	$ 9.10	$ 12.56
Vested (in shares)	(46,857)	(210,292)
Vested (in dollars per share)	$ 6.21	$ 6.46
Unvested (in shares)	100,366	139,523
Unvested (in dollars per share)	$ 6.08	$ 5.96
[1]50,000 shares were issued out of treasury stock

Note 4 - Debt (Details Textual)

Note 4 - Debt (Details Textual) $ in Thousands			10 Months Ended	12 Months Ended
	Apr. 29, 2022 USD ($)	Mar. 11, 2022 USD ($)	Mar. 11, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Jul. 06, 2022 USD ($)	May 19, 2021 USD ($)	Apr. 12, 2021 USD ($)	Mar. 08, 2021 USD ($)
Gain (Loss) on Extinguishment of Debt				$ 0	$ 1,707
Line of Credit Facility, Maximum Borrowing Capacity, Maximum Conditional Increase	$ 25,000
BMO Harris Bank, N.A. [Member]
Notes Payable, Total						$ 50,000
Revolving Credit Facility [Member] | JPMorgan Chase Bank N.A. [Member]
Line of Credit Facility, Maximum Borrowing Capacity								$ 20,000	$ 10,000
ABL Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				94,200
Debt Issuance Costs, Gross	200					$ 200
ABL Facility [Member] | JPMorgan Chase Bank N.A. [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 150,000	$ 75,000	$ 75,000				$ 40,000
Debt Instrument, Covenant, Borrowing Limit as Percent of Accounts Receivable	90%	85%	85%
Debt Instrument, Covenant, Availability Remaining Before Testing, Percentage	15%
Debt Instrument, Covenant, Availability Remaining Before Testing, Value	$ 22,500
Debt Instrument, Covenant, Fixed Charge Coverage Ratio			1.10
Line of Credit Facility, Maximum Borrowing Capacity, Conditional Increase, Minimum Increments		$ 5,000	$ 5,000
Long-Term Line of Credit				$ 33,100
Line of Credit Facility, Interest Rate at Period End				7%
ABL Facility [Member] | JPMorgan Chase Bank N.A. [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1%
ABL Facility [Member] | JPMorgan Chase Bank N.A. [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.80%
Paycheck Protection Program CARES Act [Member]
Gain (Loss) on Extinguishment of Debt					1,700
Paycheck Protection Program CARES Act [Member] | Nonoperating Income (Expense) [Member]
Gain (Loss) on Extinguishment of Debt					$ 1,700

Note 5 - Leases (Details Textua

Note 5 - Leases (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2019	Mar. 31, 2023
Finance Lease, Liability, to be Paid		$ 163,000
Operating Lease, Weighted Average Remaining Lease Term (Year)		19 years 3 months 18 days
Finance Lease, Weighted Average Remaining Lease Term (Year)		1 year 6 months
Operating Lease, Weighted Average Discount Rate, Percent		2.70%
Finance Lease, Weighted Average Discount Rate, Percent		1.90%
Heavy-duty Forklift [Member]
Lessee, Finance Lease, Term of Contract (Year)	5 years
Finance Lease, Liability, to be Paid	$ 500,000
Finance Lease, Monthly Payment	$ 9,000
Granite City, IL Facility [Member]
Operating Lease, Quarterly Payments		$ 19,000
Granite City, IL Facility [Member] | Plateplus Inc. [Member]
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		1,200,000
Office Space in Longview, Texas [Member]
Operating Lease, Monthly Payments		$ 5,000

Note 5 - Leases - Balance Sheet

Note 5 - Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finance lease – amortization of ROU asset	$ 105	$ 103
Finance lease – interest on lease liability	4	6
Operating lease expense	127	58
Lease, Cost	236	167
Operating lease right-of-use asset	1,270	113
Total right-of-use assets	1,700	569
Finance lease liability, current	107	105
Total lease liabilities	1,430	379
Other Noncurrent Assets [Member]
Operating lease right-of-use asset	1,270	113
Property, Plant and Equipment, Net [Member]
Finance lease right-of-use asset	430	456
Accounts Payable and Accrued Liabilities [Member]
Operating lease liability, current	101	52
Current Portion of Financing Lease [Member]
Finance lease liability, current	107	105
Other Noncurrent Liabilities [Member]
Operating lease liability, non-current	1,168	61
Finance lease liability, non-current	$ 54	$ 161

Note 5 - Leases - Maturities of

Note 5 - Leases - Maturities of Operating and Finance Lease (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Fiscal 2024, operating lease	$ 134
Fiscal 2024, finance leases	109
Fiscal 2025, operating lease	80
Fiscal 2025, finance leases	54
Fiscal 2026, operating lease	75
Fiscal 2026, finance leases	0
Fiscal 2027, operating lease	75
Fiscal 2027, finance leases	0
Fiscal 2028 and beyond, operating lease	1,237
Fiscal 2028 and beyond, finance leases	0
Operating lease, Total undiscounted lease payments	1,601
Finance lease, Total undiscounted lease payments	163
Operating lease, Less: imputed interest	(332)
Finance lease, Less: imputed interest	(2)
Present value of lease liability, finance lease	161
Accrued Expense and Other Noncurrent Liabilities [Member]
Present value of lease liability, operating lease	$ 1,269

Note 6 - Property, Plant and _2

Note 6 - Property, Plant and Equipment (Details Textual)	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)	May 25, 2021 ft² a
Buildings and Improvements, Gross	$ 28,550,000	$ 8,582,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	28,455,000	26,003,000
Tangible Asset Impairment Charges	0
Depreciation	2,526,000	1,320,000
Property, Plant and Equipment, Disposals	$ 0
Facility in Sinton, Texas [Member]
Area of Land (Acre) | a				26.5
Lessee, Operating Lease, Term of Contract (Year)				99 years
Facility in Sinton, Texas [Member]
Area of Real Estate Property (Square Foot) | ft²				70,000
Capitalized Property Plant and Equipment [Member]
Buildings and Improvements, Gross			$ 22,200
Decatur Facility Equipment [Member]
Accumulated Depreciation, Depletion and Amortization, Wrote-off		2,100,000
Proceeds from Sale of Machinery and Equipment		200,000
Property, Plant and Equipment, Gross		3,600,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment		$ 3,400,000

Note 7 - Derivative Financial_3

Note 7 - Derivative Financial Instruments (Details Textual) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Mar. 31, 2023 USD ($) T	Mar. 31, 2022 USD ($)
Derivative, Gain (Loss) on Derivative, Net	$ (9,900)	$ 9,306	$ (11,636)
Derivative Asset		1,600	900
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred		400
Other Current Assets [Member]
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Not Offset		2,400	13,500
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Reclassification from AOCI, Current Period, Tax		$ 1,000	$ 5,100
Not Designated as Hedging Instrument [Member] | Short [Member]
Derivative, Nonmonetary Notional Amount, Mass (US Ton) | T		27,580

Note 7 - Derivative Financial_4

Note 7 - Derivative Financial Instruments - Net Fair Value of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Derivative assets	$ 1,600	$ 900
Hot-rolled Coil Future Contracts [Member] | Designated as Hedging Instrument [Member] | Short [Member]
Derivative liabilities		8,905
Current Portion of Derivative Assets [Member] | Hot-rolled Coil Future Contracts [Member] | Not Designated as Hedging Instrument [Member] | Short [Member]
Derivative assets	536	4,241
Current Portion of Derivative Liability [Member] | Hot-rolled Coil Future Contracts [Member] | Not Designated as Hedging Instrument [Member] | Short [Member]
Derivative liabilities	$ 2,212	$ 5,524

Note 7 - Derivative Financial_5

Note 7 - Derivative Financial Instruments - Gain (Loss) Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Pre-tax gain (loss) recognized in OCI	$ 9,005	$ (19,908)
Revenue	547,542	285,235
Cost of products sold	504,457	244,248
Total	21,344	14,066
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Revenue	(4,116)
Total		(21,120)
Hot-rolled Coil Future Contracts [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Revenue	(4,116)	(31,753)
Cost of products sold		10,633
Hot-rolled Coil Future Contracts [Member] | Designated as Hedging Instrument [Member]
Pre-tax gain (loss) recognized in OCI	$ 9,005	$ (19,908)

Note 7 - Derivative Financial_6

Note 7 - Derivative Financial Instruments - Gain (Loss) Recognized in Earnings for Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Hot-rolled coil steel contracts	$ (459)	$ (1,217)
Nonoperating Income (Expense) [Member] | Hot-rolled Coil Steel Contracts [Member]
Hot-rolled coil steel contracts	$ 9,306	$ (11,636)

Note 7 - Derivative Financial_7

Note 7 - Derivative Financial Instruments - Change in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023		Mar. 31, 2022
Balance	$ 79,687		$ 65,339
Net current period other comprehensive income	9,952		920
Balance	115,432		79,687
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(10,269)		(11,189)
Other comprehensive income, net of loss, before reclassification	6,830		(15,098)
Total loss reclassified from AOCI (1)	3,122	[1]	16,018	[2]
Net current period other comprehensive income	9,952		920
Balance	$ (317)		$ (10,269)
[1]The loss reclassified from AOCI is presented net of taxes of approximately $1.0 million which are included in provision for (benefit from) income taxes on the Company's Consolidated Statement of Operations for the fiscal year ended March 31, 2023.[2]The loss reclassified from AOCI is presented net of taxes of approximately $5.1 million which are included in provision for (benefit from) income taxes on the Company's Consolidated Statement of Operations for the fiscal year ended March 31, 2022.

Note 8 - Fair Value Measureme_3

Note 8 - Fair Value Measurements - Recurring Fair Value Measurements (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Commodity futures – financial liabilities, net	$ (1,676)	$ (10,188)
Total	(1,676)	(10,188)
Fair Value, Inputs, Level 1 [Member]
Commodity futures – financial liabilities, net	(1,676)	(10,188)
Total	(1,676)	(10,188)
Fair Value, Inputs, Level 2 [Member]
Commodity futures – financial liabilities, net	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Commodity futures – financial liabilities, net	0	0
Total	$ 0	$ 0

Note 9 - Earnings Per Share - C

Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net earnings	$ 21,344	$ 14,066
Less: Allocation to unvested restricted stock units	329	543
Net earnings attributable to common shareholders	$ 21,015	$ 13,523
Weighted average common shares outstanding (in shares)	7,216,142	6,623,769

Note 9 - Earnings Per Share - R

Note 9 - Earnings Per Share - Restricted Stock Units (Details) - shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units (in shares)	55,546	76,424

Note 10 - Income Taxes - Compon

Note 10 - Income Taxes - Components of Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Current	$ 2,135	$ 3,881
Deferred	3,425	(478)
Federal Income Tax Expense (Benefit), Continuing Operations	5,560	3,403
Current	1,384	945
Deferred	(99)	(83)
State and Local Income Tax Expense (Benefit), Continuing Operations	1,285	862
Income tax	$ 6,845	$ 4,265

Note 10 - Income Taxes - Reconc

Note 10 - Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income tax expense at U.S. federal statutory rate	21%	21%
Current year state and local income taxes net of federal income tax benefit	3.50%	3.70%
Other	(0.30%)	(1.40%)
Provision for income taxes	24.20%	23.30%

Note 10 - Income Taxes - Signif

Note 10 - Income Taxes - Significant Components of Consolidated Deferred Tax Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Depreciation	$ (5,786)	$ (1,788)
Total deferred tax liabilities	(5,786)	(1,788)
Unrealized derivative loss - OCI	106	3,271
Inventory capitalization	548	98
Postretirement benefits other than pensions	25	29
Restricted stock compensation	91	69
Unrealized loss - mark to market derivatives	526	388
Other	133	66
Total deferred tax assets	1,429	3,921
Net deferred tax asset (liability)	(4,357)	(2,133)
Net deferred tax asset (liability)	$ 4,357	$ 2,133

Note 11 - Other Comprehensive_3

Note 11 - Other Comprehensive Income (Loss) - Summary of Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flow hedges, before tax	$ 13,121	$ 1,212
Cash flow hedges, tax	(3,169)	(292)
Cash flow hedges	9,952	920
Other comprehensive income (loss), before tax	13,121	1,212
Other comprehensive income (loss), tax	(3,169)	(292)
Other Comprehensive Income (Loss)	$ 9,952	$ 920

Note 12 - Retirement Plan (Deta

Note 12 - Retirement Plan (Details Textual) - Friedman Industries, Inc. Employee's Retirement and 401(k) Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Service Vesting Period (Year)	6 years
Maximum Annual Contribution Percentage to Defined Contribution Plan for Eligible Employee Compensation		15%
Defined Contribution Plan, Cost	$ 0.4	$ 0.2
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 0.1

Note 13 - Industry Segment Da_3

Note 13 - Industry Segment Data (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Gain (Loss) on Extinguishment of Debt	$ 0	$ 1,707
Paycheck Protection Program CARES Act [Member]
Gain (Loss) on Extinguishment of Debt		$ 1,700

Note 13 - Industry Segment Da_4

Note 13 - Industry Segment Data - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2023	Mar. 31, 2022
Net sales		$ 547,542	$ 285,235
Operating profit (loss)		21,074	28,520
Gain (loss) on economic hedges of risk	$ (9,900)	9,306	(11,636)
Interest expense		(2,218)	(255)
Other income		27	1,702
TOTAL EARNINGS BEFORE INCOME TAXES		28,189	18,331
Identifiable assets		199,312	159,275
Depreciation		2,526	1,320
Capital expenditures		16,454	8,065
Coil [Member]
Net sales		61,901	54,797
Operating Segments [Member]
Operating profit (loss)		32,062	34,215
Identifiable assets		195,638	139,249
Operating Segments [Member] | Coil [Member]
Net sales		485,641	230,438
Operating profit (loss)		23,421	31,791
Identifiable assets		179,780	115,232
Depreciation		2,097	974
Capital expenditures		16,328	8,005
Operating Segments [Member] | Tubular [Member]
Net sales		61,901	54,797
Operating profit (loss)		8,641	2,424
Identifiable assets		15,858	24,017
Depreciation		330	330
Capital expenditures		125	21
Corporate, Non-Segment [Member]
General corporate expenses		(10,988)	(5,695)
Identifiable assets		3,674	20,026
Depreciation		99	16
Capital expenditures		$ 1	$ 39

Note 14 - Revenue (Details Text

Note 14 - Revenue (Details Textual)	12 Months Ended
	Mar. 31, 2023
Number of Reportable Segments	2

Note 14 - Revenue - Disaggregat

Note 14 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net sales	$ 547,542	$ 285,235
Coil [Member]
Net sales	61,901	54,797
Coil [Member] | Prime Coil [Member]
Net sales	479,316	219,483
Coil [Member] | Secondary Coil [Member]
Net sales	3,574	9,597
Coil [Member] | Customer Owned [Member]
Net sales	2,751	1,358
Tubular [Member] | Manufactured Pipe [Member]
Net sales	61,451	44,485
Tubular [Member] | Mill Reject Pipe [Member]
Net sales	$ 450	$ 10,312

Schedule II - Valuation and Q_3

Schedule II - Valuation and Qualifying Accounts (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts Receivable, Credit Loss Expense (Reversal)	$ 98	$ 67

Schedule II - Valuation and Q_4

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Beginning of Period	$ 85	$ 18
Additions	98	67
Deductions	0	0
End of Period	$ 183	$ 85