Olympic Steel (ZEUS) 10-Q 1 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	OLYMPIC STEEL INC
Document Type	10-Q
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		10,997,776
Amendment Flag	FALSE
Entity Central Index Key	917470
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$4,914	$2,238
Accounts receivable, net	151,477	123,804
Inventories, net (includes LIFO debit of $3,457 as of March 31, 2015 and $3,207 as of December 31, 2014)	280,266	311,108
Prepaid expenses and other	15,359	20,434
Assets held for sale	1,125	1,125
Total current assets	453,141	458,709
Property and equipment, at cost	366,754	366,989
Accumulated depreciation	-192,267	-189,603
Net property and equipment	174,487	177,386
Goodwill	16,951	16,951
Intangible assets, net	33,424	33,646
Other long-term assets	14,091	14,056
Total assets	692,094	700,748
Liabilities
Current portion of long-term debt	3,530	3,530
Accounts payable	97,308	91,252
Accrued payroll	9,457	10,224
Other accrued liabilities	24,989	26,971
Total current liabilities	135,284	131,977
Credit facility revolver	234,100	244,090
Other long-term liabilities	11,649	13,249
Deferred income taxes	29,104	30,651
Total liabilities	410,137	419,967
Shareholders' Equity
Preferred stock	0	0
Common stock	127,301	126,339
Accumulated other comprehensive loss	-1,185	-549
Retained earnings	155,841	154,991
Total shareholders' equity	281,957	280,781
Total liabilities and shareholders' equity	$692,094	$700,748

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
LIFO debit	$3,457	$3,207

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net sales	$345,865	$346,913
Costs and expenses
Cost of materials sold (excludes items shown seperately below)	279,939	275,467
Warehouse and processing	22,537	21,360
Administrative and general	17,330	18,937
Distribution	9,301	9,856
Selling	5,891	6,518
Occupancy	2,710	2,870
Depreciation	4,590	5,454
Amortization	222	222
Total costs and expenses	342,520	340,684
Operating income	3,345	6,229
Other income (loss), net	-31	2
Income before interest and income taxes	3,314	6,231
Interest and other expense on debt	1,563	1,754
Income before income taxes	1,751	4,477
Income tax provision	682	1,700
Net income	1,069	2,777
Net gain (loss) on cash flow hedges, net of tax of $397 at March 31, 2015 and $32 at March 31, 2014.	-636	51
Total comprehensive income	$433	$2,828
Earnings per share:
Net income per share - basic (in Dollars per share)	$0.10	$0.25
Weighted average shares outstanding - basic (in Shares)	11,195	11,089
Net income per share - diluted (in Dollars per share)	$0.10	$0.25
Weighted average shares outstanding - diluted (in Shares)	11,195	11,090

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Tax	$397	$32

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from (used for) operating activities:
Net income	$1,069	$2,777
Adjustments to reconcile net income to net cash from (used for) operating activities -
Depreciation and amortization	5,007	6,011
Loss on disposition of property and equipment		12
Stock-based compensation	953	914
Other long-term assets	-230	-851
Other long-term liabilities	-3,783	-199
	3,016	8,664
Changes in working capital:
Accounts receivable	-27,673	-34,618
Inventories	30,842	2,508
Prepaid expenses and other	5,075	1,347
Accounts payable	1,091	2,889
Change in outstanding checks	4,964	-9,629
Accrued payroll and other accrued liabilities	-2,747	850
	11,552	-36,653
Net cash from (used for) operating activities	14,568	-27,989
Cash flows from (used for) investing activities:
Capital expenditures	-1,691	-2,341
Proceeds from disposition of property and equipment		7
Net cash used for investing activities	-1,691	-2,334
Cash flows from (used for) financing activities:
Credit facility revolver borrowings	112,410	115,525
Credit facility revolver repayments	-122,400	-80,720
Term loan repayments		-2,187
Proceeds from exercise of stock options (including tax benefits) and employee stock purchases	9	137
Dividends paid	-220	-219
Net cash from (used for) financing activities	-10,201	32,536
Cash and cash equivalents:
Net change	2,676	2,213
Beginning balance	2,238	3,186
Ending balance	4,914	5,399
Interest paid	1,413	1,440
Income taxes paid	$39	$25

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Business Description and Basis of Presentation [Text Block]	1.      Basis of Presentation:
	The accompanying consolidated financial statements have been prepared from the financial records of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, Olympic or the Company), without audit and reflect all normal and recurring adjustments which are, in the opinion of management, necessary to fairly state the results of the interim periods covered by this report. Year-to-date results are not necessarily indicative of 2015 annual results and these financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. All significant intercompany transactions and balances have been eliminated in consolidation.
	Commencing with the first quarter of 2015, the flat products segment has been separated into two reportable segments; carbon flat products and specialty metals flat products. Prior year financial information has been recast to reflect the new segment reporting structure. The Company now operates in three reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its tubular and pipe products segment, the Company distributes metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets.
	Corporate expenses are reported as a separate line item for segment reporting purposes. Corporate expenses include the unallocated expenses related to managing the entire Company (i.e., all three segments), including payroll expenses for certain personnel, expenses related to being a publicly traded entity such as board of directors expenses, audit expenses, and various other professional fees.

Note_2_Accounts_Receivable

Note 2 - Accounts Receivable	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Financing Receivables [Text Block]	2	Accounts Receivable:
	Accounts receivable are presented net of allowances for doubtful accounts and unissued credits of $2.9 million as of March 31, 2015 and as of December 31, 2014. The allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that have been identified. Estimations are based upon a calculated percentage of accounts receivable, which remains fairly level from year to year, and judgments about the probable effects of economic conditions on certain customers, which can fluctuate significantly from year to year. The Company cannot guarantee that the rate of future credit losses will be similar to past experience. The Company considers all available information when assessing the adequacy of its allowance for doubtful accounts and unissued credits each quarter.

Note_3_Inventories

Note 3 - Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	3	Inventories:
	Inventories consisted of the following:
			Inventory as of
	(in thousands)		31-Mar-15		31-Dec-14
	Unprocessed		$	218,019	$	238,226
	Processed and finished			62,247		72,882
	Totals		$	280,266	$	311,108
	The Company values certain of its tubular and pipe products inventory at the last-in, first-out (LIFO) method. At March 31, 2015 and December 31, 2014, approximately $46.5 million, or 16.6% of consolidated inventory, and $46.6 million, or 15.0% of consolidated inventory, respectively, was reported under the LIFO method of accounting. The cost of the remainder of the tubular and pipe products inventory is determined using a weighted average rolling first-in, first-out (FIFO) method.
	During the three months ended March 31, 2015, the Company recorded $250 thousand of LIFO income as a result of the continued decline of metals pricing and expected lower inventory quantities in 2015. The LIFO income increased the Company’s inventory balance and decreased its cost of materials sold. In the first quarter of 2014, the Company did not record an adjustment for LIFO as comparative levels and pricing were anticipated through the remainder of 2014.
	If the FIFO method had been in use, inventories would have been $3.5 million and $3.2 million lower than reported at March 31, 2015 and December 31, 2014, respectively.

Note_4_Goodwill_and_Intangible

Note 4 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	4.          Goodwill and Intangible Assets:
	During the fourth quarter of 2014, during its annual goodwill impairment testing, the Company concluded that the implied fair value of goodwill for the tubular and pipe products segment was less than its carrying value and a partial goodwill impairment of $23.8 million was recorded. Due to the inherent uncertainty associated with goodwill impairment testing and the assumptions and estimates used, actual results could differ materially from these assumptions and estimates. Although management believes the assumptions used in testing the Company’s reporting units’ goodwill for impairment were reasonable, it is possible that market and economic conditions could deteriorate further or not improve as expected. Additional declines in or a lack of recovery in market conditions from current levels, weaker than anticipated Company financial performance, or an increase in the market-based weighted average cost of capital, among other factors, could significantly impact the impairment analysis and may result in further goodwill impairment charges that, if incurred, could have a material adverse effect on the Company’s financial condition and results of operations. A 1% change to the weighted average cost of capital would impact the goodwill impairment by $16 million to $17 million and a 1% change in the terminal growth rate would impact the goodwill impairment by $10 million to $13 million.
	Goodwill, by reportable segment, was as follows as of March 31, 2015 and December 31, 2014:
	(in thousands)	Flat Products		Tubular and Pipe Products			Total
	Balance as of December 31, 2014	$	500	$	16,451		$	16,951
	Acquisitions		-		-			-
	Impairments		-		-			-
	Balance as of March 31, 2015	$	500	$	16,451		$	16,951
	Intangible assets, net, consisted of the following as of March 31, 2015 and December 31, 2014:
		As of March 31, 2015
	(in thousands)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
	Customer relationships - subject to amortization	$	13,332	$	(3,333	)	$	9,999
	Trade name - not subject to amortization		23,425		-			23,425
		$	36,757	$	(3,333	)	$	33,424
		As of December 31, 2014
	(in thousands)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
	Customer relationships - subject to amortization	$	13,332	$	(3,111	)	$	10,221
	Trade name - not subject to amortization		23,425		-			23,425
		$	36,757	$	(3,111	)	$	33,646
	The Company estimates that amortization expense for its intangible assets subject to amortization will be $889 thousand for the year ending December 31, 2015 and $889 thousand per year in each of the next five years.

Note_5_Debt

Note 5 - Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	5.             Debt:
	The Company’s debt is comprised of the following components:
		As of
		March 31,			December 31,
	(in thousands)	2015			2014
	Asset-based revolving credit facility due June 30, 2019	$	234,100		$	244,090
	Industrial revenue bond due April 1, 2018		3,530			3,530
	Total debt		237,630			247,620
	Less current amount		(3,530	)		(3,530	)
	Total long-term debt	$	234,100		$	244,090
	On June 30, 2014, the Company amended its existing asset-based credit facility (ABL Credit Facility). The ABL Credit Facility amendment provides for, among other things: (i) a reduction in the applicable margin for loans under the Company’s Loan and Security Agreement; (ii) a consolidation of the previous $315.0 million revolver and then outstanding $44.5 million term loan into a $365 million revolving credit facility; (iii) the removal of the Company’s real estate as collateral for borrowings; and (iv) the extension of the maturity date until June 30, 2019. Revolver borrowings are limited to the lesser of a borrowing base, comprised of eligible receivables and inventories, or $365 million in the aggregate. The ABL Credit Facility matures on June 30, 2019.
	The ABL Credit Facility requires the Company to comply with various covenants, the most significant of which include: (i) until maturity of the ABL Credit Facility, if any commitments or obligations are outstanding and the Company’s availability is less than the greater of $30 million or 10.0% of the aggregate amount of revolver commitments ($36.5 million at March 31, 2015) then the Company must maintain a ratio of EBITDA minus certain capital expenditures and cash taxes paid to fixed charges of at least 1.00 to 1.00 for the most recent twelve fiscal month period; (ii) limitations on dividend payments; and (iii) restrictions on additional indebtedness. The Company has the option to borrow under its revolver based on the agent’s base rate plus a premium ranging from 0.00% to 0.25% or the London Interbank Offered Rate (LIBOR) plus a premium ranging from 1.25% to 3.00%.
	As of March 31, 2015, the Company was in compliance with its covenants and had approximately $103 million of availability under the ABL Credit Facility.
	As of March 31, 2015, $3.3 million of bank financing fees were included in “Prepaid expenses and other” and “Other long-term assets” on the accompanying Consolidated Balance Sheets. The financing fees are being amortized over the five-year term of the ABL Credit facility and are included in “Interest and other expense on debt” on the accompanying Consolidated Statements of Comprehensive Income.
	In June 2012, the Company entered into a forward starting fixed rate interest rate hedge that commenced June 2013, in order to eliminate the variability of cash interest payments on $53.2 million of then outstanding LIBOR-based borrowings under the ABL Credit Facility. The hedge matures on June 1, 2016 and the notional amount is reduced monthly by $729 thousand. The hedged balance as of March 31, 2015 was $37.9 million. The interest rate hedge fixed the rate at 1.21% plus a premium ranging from 1.75% to 2.25%. Although the Company is exposed to credit loss in the event of nonperformance by the other parties to the interest rate hedge agreement, the Company anticipates performance by the counterparties.
	As part of the Chicago Tube and Iron (CTI) acquisition in July 2011, the Company assumed approximately $5.9 million of Industrial Revenue Bond (IRB) indebtedness issued through the Stanly County, North Carolina Industrial Revenue and Pollution Control Authority. The bond matures in April 2018, with the option to provide principal payments annually on April 1st. On April 1, 2015, the Company paid an optional principal payment of $840 thousand. Since the IRB is remarketed annually, it is included in “Current portion of long-term debt” on the accompanying Consolidated Balance Sheets. Interest is payable monthly, with a variable rate that resets weekly. As a security for payment of the bonds, the Company obtained a direct pay letter of credit issued by JPMorgan Chase Bank, N.A. The letter of credit reduces annually by the principal reduction amount. The interest rate at March 31, 2015 was 0.14% for the IRB debt.
	CTI entered into an interest rate swap agreement to reduce the impact of changes in interest rates on the above IRB. At March 31, 2015, the effect of the swap agreement on the bond was to fix the rate at 3.46%. The swap agreement matures in April 2018, and is reduced annually by the amount of the optional principal payments on the bond. The Company is exposed to credit loss in the event of nonperformance by the other parties to the interest rate swap agreement. However, the Company does not anticipate nonperformance by the counterparties.

Note_6_Derivative_Instruments

Note 6 - Derivative Instruments	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	6.             Derivative Instruments:
	Metals swaps
	During 2015 and 2014, the Company entered into nickel swaps indexed to the London Metal Exchange (LME) price of nickel with third-party brokers. In 2014, the Company entered into carbon swaps indexed to the New York Mercantile Exchange (NYMEX) price of U.S. Midwest Domestic Hot-Rolled Coil Steel with third-party brokers. The nickel and carbon swaps are treated as derivatives for accounting purposes. The Company entered into them to mitigate its customers’ risk of volatility in the price of metals. The outstanding nickel swaps have one to fourteen months remaining and the outstanding carbon swaps have one to nine months remaining. The swaps are settled with the brokers at maturity. The economic benefit or loss arising from the changes in fair value of the swaps is contractually passed through to the customer. The primary risk associated with the metals swaps is the ability of customers or third-party brokers to honor their agreements with the Company related to derivative instruments. If the customer or third-party brokers are unable to honor their agreements, the Company’s risk of loss is the fair value of the metals swaps.
	While these derivatives are intended to help the Company manage risk, they have not been designated as hedging instruments. The periodic changes in fair value of the metals and embedded customer derivative instruments are included in “Cost of materials sold” in the Consolidated Statements of Comprehensive Income. The Company recognizes derivative positions with both the customer and the third party for the derivatives and classifies cash settlement amounts associated with them as part of “Cost of materials sold” in the Consolidated Statements of Comprehensive Income. The cumulative change in fair value of the metals swaps that have not yet been settled are included in “Other accrued liabilities”, and the embedded customer derivatives are included in “Accounts receivable, net” on the Consolidated Balance Sheets at March 31, 2015 and December 31, 2014.
	In 2014, the Company entered into carbon swaps to mitigate its risk of volatility in the price of metals. The swaps are indexed to the NYMEX price of U.S. Midwest Domestic Hot-Rolled Coil Steel with third-party brokers. The outstanding carbon swaps have one to nine months remaining. The metals swaps are accounted for as cash flow hedges and are included in “Other accrued liabilities” and “Prepaid expenses and other” on the Consolidated Balance Sheet at March 31, 2015. The periodic change in fair value of the metals hedges are included in “Accumulated other comprehensive loss” on the Consolidated Balance Sheet at March 31, 2015.
	Interest rate swap
	CTI entered into an interest rate swap to reduce the impact of changes in interest rates on its IRB. The swap agreement matures in April 2018, the same time as the IRB, and is reduced annually by the amount of the optional principal payments on the IRB. The Company is exposed to credit loss in the event of nonperformance by the other parties to the interest rate swap agreement. However, the Company does not anticipate nonperformance by the counterparties. The interest rate swap is not treated as a hedge for accounting purposes.
	The periodic changes in fair value of the interest rate swap and cash settlement amounts associated with the interest rate swap are included in “Interest and other expense on debt” in the Consolidated Statements of Comprehensive Income.
	Fixed rate interest rate hedge
	In June 2012, the Company entered into a forward starting fixed rate interest rate hedge commencing July 2013 in order to eliminate the variability of cash interest payments on $53.2 million of the outstanding LIBOR-based borrowings under the ABL Credit Facility. The hedged balance as of March 31, 2015 was $37.9 million. The hedge matures on June 1, 2016 and the notional amount is reduced monthly by $729 thousand. The interest rate hedge fixed the rate at 1.21% plus a premium ranging from 1.25% to 1.75%. Although the Company is exposed to credit loss in the event of nonperformance by the other parties to the interest rate hedge agreement, the Company anticipates performance by the counterparties. The fixed rate interest rate hedge is accounted for as a cash flow hedging instrument for accounting purposes.
	There was no net impact from the nickel swaps or embedded customer derivative agreements to the Company’s Consolidated Statements of Comprehensive Income for the three months ended March 31, 2015 and 2014. The table below shows the total impact to the Company’s Consolidated Statements of Comprehensive Income through net income of the derivatives for the three months ended March 31, 2015 and 2014.
		Net Loss Recognized
		For the Three Months Ended March 31,
	(in thousands)	2015			2014
	Interest rate swap (CTI)	$	(17	)	$	(29	)
	Fixed interest rate swap (ABL)		(99	)		(124	)
	Metals swaps		(1,117	)		655
	Embedded customer derivatives		1,117			(655	)
	Total loss	$	(116	)	$	(153	)

Note_7_Fair_Value_of_Financial

Note 7 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	7.             Fair Value of Financial Instruments:
	The Company’s financial instruments include cash and cash equivalents, short-term trade receivables, derivative instruments, accounts payable and debt instruments. For short-term instruments, other than those required to be reported at fair value on a recurring basis and for which additional disclosures are included below, management concluded the historical carrying value is a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants. Valuation techniques must maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company applies a fair value hierarchy that is based on three levels of input, of which the first two are considered observable and the last unobservable, as follows:
	Level 1 – Quoted prices in active markets for identical assets and liabilities.
	Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	During the three months ended March 31, 2015, there were no transfers of financial assets between Levels 1, 2 or 3 fair value measurements. There have been no changes in the methodologies used at March 31, 2015 since December 31, 2014. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value as of March 31, 2015 and December 31, 2014:
	Metals swaps and embedded customer derivatives – Determined by using Level 2 inputs that include the price of nickel indexed to the LME and the price of Hot-Rolled Coil Steel indexed to the NYMEX. The fair value is determined based on quoted market prices and reflects the estimated amounts the Company would pay or receive to terminate the nickel swaps.
	Interest rate swaps – Based on the present value of the expected future cash flows, considering the risks involved, and using discount rates appropriate for the maturity date. Market observable Level 2 inputs are used to determine the present value of future cash flows.
	The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company:
		Value of Items Recorded at Fair Value
		As of March 31, 2015
	(in thousands)	Level 1		Level 2		Level 3		Total
	Assets:
	Metals swaps	$	-	$	1,350	$	-	$	1,350
	Total assets at fair value	$	-	$	1,350	$	-	$	1,350
	Liabilities:
	Embedded customer derivative	$	-	$	1,350	$	-	$	1,350
	Interest rate swap (CTI)		-		162		-		162
	Fixed interest rate swap (ABL)		-		351		-		351
	Total liabilities recorded at fair value	$	-	$	1,863	$	-	$	1,863
		Value of Items Not Recorded at Fair Value
		As of March 31, 2015
	(in thousands)	Level 1		Level 2		Level 3		Total
	Liabilities:
	IRB	$	3,530	$	-	$	-	$	3,530
	Revolver		-		234,100		-		234,100
	Total liabilities not recorded at fair value	$	3,530	$	234,100	$	-	$	237,630
	The value of the items not recorded at fair value represent the carrying value of the liabilities.
		Value of Items Recorded at Fair Value
		As of December 31, 2014
	(in thousands)	Level 1		Level 2		Level 3		Total
	Assets:
	Embedded customer derivative	$	-	$	487	$	-	$	487
	Total assets at fair value	$	-	$	487	$	-	$	487
	Liabilities:
	Metals swaps	$	-	$	487	$	-	$	487
	Interest rate swap (CTI)		-		178		-		178
	Fixed interest rate swap (ABL)		-		386		-		386
	Total liabilities recorded at fair value	$	-	$	1,051	$	-	$	1,051
		Value of Items Not Recorded at Fair Value
		As of December 31, 2014
	(in thousands)	Level 1		Level 2		Level 3		Total
	Liabilities:
	IRB	$	3,530	$	-	$	-	$	3,530
	Revolver		-		244,090		-		244,090
	Total liabilities not recorded at fair value	$	3,530	$	244,090	$	-	$	247,620
	The value of the items not recorded at fair value represent the carrying value of the liabilities.
	The fair value of the IRB is determined using Level 1 inputs. The carrying value and the fair value of the IRB that qualify as financial instruments were $3.5 million at both March 31, 2015 and December 31, 2014.
	The fair value of the revolver is determined using Level 2 inputs. The carrying value of the revolver was $234.1 million at March 31, 2015. The carrying value of the revolver was $244.1 at December 31, 2014. The Level 2 fair value of the Company's long-term debt was estimated using prevailing market interest rates on debt with similar credit worthiness, terms and maturities.

Note_8_Equity_Plans

Note 8 - Equity Plans	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	8.           Equity Plans:
	Stock Options
	The following table summarizes stock option activity during the three months ended March 31, 2015:
							Weighted Average		Aggregate Intrinsic
		Number of			Weighted Average		Remaining		Value
		Options			Exercise Price		Contractual Term		(in thousands)
	Outstanding at December 31, 2014		20,170		$	32.63
	Granted		-			-
	Exercised		-			-
	Canceled		(1,000	)		32.63
	Outstanding at March 31, 2015		19,170		$	32.63		2.08	$	-
	Exercisable at March 31, 2015		19,170		$	32.63		2.08	$	-
	There were 7,000 options exercised during the three months ended March 31, 2014. The total intrinsic value of stock options exercised during the three months ended March 31, 2014 was $103 thousand. All options outstanding are vested as of March 31, 2015.
	Restricted Stock Units and Performance Share Units
	Pursuant to the Olympic Steel 2007 Omnibus Incentive Plan (Plan), the Company may grant stock options, stock appreciation rights, restricted shares, restricted share units, performance shares, and other stock- and cash-based awards to employees and Directors of, and consultants to, the Company and its affiliates. Under the Plan, 500,000 shares of common stock are available for equity grants.
	On March 1, 2015 and March 1, 2014, the Compensation Committee of the Company’s Board of Directors approved the grant of 4,639 and 2,544 restricted stock units (RSUs), respectively, to each non-employee Director. Subject to the terms of the Plan and the RSU agreement, the RSUs vest after one year of service (from the date of grant). The RSUs are not converted into shares of common stock until the director either resigns or is terminated from the Board of Directors.
	The fair value of each RSU was estimated to be the closing price of the Company’s common stock on the date of the grant, which was $15.09 and $27.51 for the grants on March 1, 2015 and March 1, 2014, respectively.
	The Company’s Senior Management Compensation Program includes an equity component in order to encourage more ownership of common stock by the senior management. The Senior Management Compensation Program imposes stock ownership requirements upon the participants. Each participant is required to own at least 750 shares of common stock for each year that the participant participates in the Senior Management Compensation Program. Any participant that fails to meet to the stock ownership requirements will be ineligible to receive any equity awards under the Company’s equity compensation plans, including the Plan, until the participant satisfies the ownership requirements. To assist participants in meeting the stock ownership requirements, on an annual basis, if a participant purchases 500 shares of common stock on the open market, the Company will award that participant 250 shares of common stock. During the three months ended March 31, 2015 and 2014 the Company matched 6,500 and 4,750 shares, respectively. Additionally, any participant who continues to comply with the stock ownership requirements as of the five-year, 10-year, 15-year, 20-year and 25-year anniversaries of the participant’s participation in the Senior Management Compensation Program will receive a restricted stock unit award with a dollar value of $25 thousand, $50 thousand, $75 thousand, $100 thousand and $100 thousand, respectively. Restricted stock unit awards will convert into the right to receive shares of common stock upon a participant’s retirement, or earlier upon the participant’s death or disability or upon a change in control of the Company.
	Stock-based compensation expense recognized on RSUs for the three months ended March 31, 2015 and 2014, respectively, is summarized in the following table:
		For the Three Months Ended
		March 31,
		2015			2014
	(in thousands, except per share data)
	RSU expense before taxes	$	231		$	253
	RSU expense after taxes	$	141		$	157
	Impact per basic share	$	0.01		$	0.01
	Impact per diluted share	$	0.01		$	0.01
	All pre-tax charges related to RSUs were included in the caption “Administrative and general” on the accompanying Consolidated Statements of Comprehensive Income.
	The following table summarizes the activity related to RSUs for the three months ended March 31, 2015:
							Aggregate
		Number of			Weighted Average		Intrinsic Value
		Shares			Granted Price		(in thousands)
	Outstanding at December 31, 2014		238,023		$	25.11
	Granted		69,771			14.54
	Converted into shares		(1,582	)		16.92
	Forfeited		-			-
	Outstanding at March 31, 2015		306,212		$	22.61	$	-
	Vested at March 31, 2015		277,696		$	22.53	$	-
	During the three months ended March 31, 2015, 1,582 RSUs were converted into shares. No RSUs were converted into shares during the three months ended March 31, 2014.

Note_9_Income_Taxes

Note 9 - Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	9.           Income Taxes:
	For the three months ended March 31, 2015, the Company recorded an income tax provision of $682 thousand, or 38.9%, compared to $1.7 million, or 38.0%, for the three months ended March 31, 2014.
	Our tax provision for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment.
	Our quarterly tax provision and our quarterly estimate of our annual effective tax rate is subject to significant volatility due to several factors, including variability in accurately predicting our pre-tax and taxable income and loss and the mix of jurisdictions to which they relate, changes in law and relative changes of expenses or losses for which tax benefits are not recognized. Additionally, our effective tax rate can be more or less volatile based on the amount of pre-tax income. For example, the impact of discrete items and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower.

Note_10_Shares_Outstanding_and

Note 10 - Shares Outstanding and Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	10.           Shares Outstanding and Earnings Per Share:
	Earnings per share have been calculated based on the weighted average number of shares outstanding as set forth below:
		For the Three Months Ended
		March 31,
	(in thousands, except per share data)	2015		2014
	Weighted average basic shares outstanding		11,195		11,089
	Assumed exercise of stock options and issuance of stock awards		-		1
	Weighted average diluted shares outstanding		11,195		11,090
	Net income	$	1,069	$	2,777
	Basic earnings per share	$	0.1	$	0.25
	Diluted earnings per share	$	0.1	$	0.25
	Anti-dilutive securities outstanding		283		199

Note_11_Segment_Information

Note 11 - Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	11.           Segment Information:
	The Company follows the accounting guidance that requires the utilization of a “management approach” to define and report the financial results of operating segments. The management approach defines operating segments along the lines used by the Company’s chief operating decision maker (CODM) to assess performance and make operating and resource allocation decisions. Our CODM evaluates performance and allocates resources based primarily on operating income (loss). Our operating segments are based primarily on internal management reporting.
	Commencing with the first quarter of 2015, the flat products segment has been separated into two reportable segments; carbon flat products and specialty metals flat products. The flat products segments’ assets and resources are shared by the carbon and specialty metals segments and both segments’ products are stored in the shared facilities and processed on the shared equipment. As such, total assets and capital expenditures are reported in the aggregate for the flat products segments. Due to the shared assets and resources, certain of the flat products segment expenses are allocated between the carbon flat products segment and the specialty metals flat products segment based upon an established allocation methodology. Prior year financial information has been recast to reflect the new segment reporting structure.
	The Company now operates in three reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its tubular and pipe products segment, the Company distributes metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets.
	Corporate expenses are reported as a separate line item for segment reporting purposes. Corporate expenses include the unallocated expenses related to managing the entire Company (i.e., all three segments), including payroll expenses for certain personnel, expenses related to being a publicly traded entity such as board of directors expenses, audit expenses, and various other professional fees.
	The following table provides financial information by segment and reconciles the Company’s operating income by segment to the consolidated income before income taxes for the three months ended March 31, 2015 and 2014.
		For the Three Months Ended
		March 31,
	(in thousands)	2015			2014
	Net sales
	Carbon flat products	$	228,545		$	239,715
	Specialty metals flat products		52,631			46,138
	Tubular and pipe products		64,689			61,060
	Total net sales	$	345,865		$	346,913
	Depreciation and amortization
	Carbon flat products	$	3,161		$	4,022
	Specialty metals flat products		160			195
	Tubular and pipe products		1,466			1,434
	Corporate		25			25
	Total depreciation and amortization	$	4,812		$	5,676
	Operating income
	Carbon flat products	$	350		$	3,406
	Specialty metals flat products		710			1,442
	Tubular and pipe products		4,254			3,437
	Corporate expenses		(1,969	)		(2,056	)
	Total operating income	$	3,345		$	6,229
	Other income (loss), net		(31	)		2
	Income before interest and income taxes		3,314			6,231
	Interest and other expense on debt		1,563			1,754
	Income before income taxes	$	1,751		$	4,477
		March 31,
	(in thousands)	2015			2014
	Capital expenditures
	Flat products segments	$	1,188		$	1,017
	Tubular and pipe products		503			1,320
	Corporate		-			4
	Total capital expenditures	$	1,691		$	2,341
		As of
		March 31,			December 31,
	(in thouands)	2015			2014
	Goodwill
	Flat products segments	$	500		$	500
	Tubular and pipe products		16,451			16,451
	Total goodwill	$	16,951		$	16,951
	Assets
	Flat products segments	$	483,796		$	496,253
	Tubular and pipe products		207,765			203,937
	Corporate		533			558
	Total assets	$	692,094		$	700,748
	There were no material revenue transactions between the carbon flat products, specialty metals products, and tubular and pipe products segments.
	The Company sells certain products internationally, primarily in Canada, Puerto Rico and Mexico. International sales are immaterial to the consolidated financial results and to the individual segments’ results.

Note_12_Recently_Issued_Accoun

Note 12 - Recently Issued Accounting Updates:	3 Months Ended
	Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	12.           Recently Issued Accounting Updates:
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, “Interest – Imputation of Interest.” This ASU is part of the FASB’s Simplification Initiative and has been issued to reduce the complexity in the presentation of debt issuance costs. This new guidance requires companies to present debt issuance costs the same way they currently present debt discounts, as a direct deduction from the carrying value of that debt liability. The guidance is limited to simplifying the presentation of debt issuance costs and does not impact the recognition and measurement guidance for debt issuance costs. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, with early adoption permitted. The amendments of ASU No. 2015-03 must be applied retrospectively, where the balance sheet of each presented individual period is adjusted to indicate the period-specific impact of using the new guidance. The FASB considered that because both debt issuance costs and debt discounts are amortized using the effective interest method, there would be no effect on the income statement upon adoption of the amendments. The adoption of this ASU is not expected to impact the Company’s consolidated financial statements.
	In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” This ASU is a joint project initiated by the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards that will: remove inconsistencies and weaknesses in revenue requirements; provide a more robust framework for addressing revenue issues; improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; provide more useful information to users of financial statements through improved disclosure requirements; and simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. As originally proposed, the guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. On April 1, 2015, the FASB approved issuing an exposure draft on a one-year deferral of the effective date of the new revenue standard for both public and private companies. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on its consolidated financial statements.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	The accompanying consolidated financial statements have been prepared from the financial records of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, Olympic or the Company), without audit and reflect all normal and recurring adjustments which are, in the opinion of management, necessary to fairly state the results of the interim periods covered by this report. Year-to-date results are not necessarily indicative of 2015 annual results and these financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. All significant intercompany transactions and balances have been eliminated in consolidation.
Segment Reporting, Policy [Policy Text Block]	Commencing with the first quarter of 2015, the flat products segment has been separated into two reportable segments; carbon flat products and specialty metals flat products. Prior year financial information has been recast to reflect the new segment reporting structure. The Company now operates in three reportable segments; carbon flat products, specialty metals flat products, and tubular and pipe products. Through its carbon flat products segment, the Company sells and distributes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products. Through its specialty metals flat products segment, the Company sells and distributes processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. Through its tubular and pipe products segment, the Company distributes metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets.
	Corporate expenses are reported as a separate line item for segment reporting purposes. Corporate expenses include the unallocated expenses related to managing the entire Company (i.e., all three segments), including payroll expenses for certain personnel, expenses related to being a publicly traded entity such as board of directors expenses, audit expenses, and various other professional fees.

Note_3_Inventories_Tables

Note 3 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]		Inventory as of
	(in thousands)	31-Mar-15		31-Dec-14
	Unprocessed	$	218,019	$	238,226
	Processed and finished		62,247		72,882
	Totals	$	280,266	$	311,108

Note_4_Goodwill_and_Intangible1

Note 4 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	Goodwill, by reportable segment, was as follows as of March 31, 2015 and December 31, 2014:
	(in thousands)	Flat Products		Tubular and Pipe Products			Total
	Balance as of December 31, 2014	$	500	$	16,451		$	16,951
	Acquisitions		-		-			-
	Impairments		-		-			-
	Balance as of March 31, 2015	$	500	$	16,451		$	16,951
Schedule of Finite and Indefinite Lived Intangible Assets [Table Text Block]		As of March 31, 2015
	(in thousands)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
	Customer relationships - subject to amortization	$	13,332	$	(3,333	)	$	9,999
	Trade name - not subject to amortization		23,425		-			23,425
		$	36,757	$	(3,333	)	$	33,424
		As of December 31, 2014
	(in thousands)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
	Customer relationships - subject to amortization	$	13,332	$	(3,111	)	$	10,221
	Trade name - not subject to amortization		23,425		-			23,425
		$	36,757	$	(3,111	)	$	33,646

Note_5_Debt_Tables

Note 5 - Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]
		As of
		March 31,			December 31,
	(in thousands)	2015			2014
	Asset-based revolving credit facility due June 30, 2019	$	234,100		$	244,090
	Industrial revenue bond due April 1, 2018		3,530			3,530
	Total debt		237,630			247,620
	Less current amount		(3,530	)		(3,530	)
	Total long-term debt	$	234,100		$	244,090

Note_6_Derivative_Instruments_

Note 6 - Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]		Net Loss Recognized
		For the Three Months Ended March 31,
	(in thousands)	2015			2014
	Interest rate swap (CTI)	$	(17	)	$	(29	)
	Fixed interest rate swap (ABL)		(99	)		(124	)
	Metals swaps		(1,117	)		655
	Embedded customer derivatives		1,117			(655	)
	Total loss	$	(116	)	$	(153	)

Note_7_Fair_Value_of_Financial1

Note 7 - Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]		Value of Items Recorded at Fair Value
		As of March 31, 2015
	(in thousands)	Level 1		Level 2		Level 3		Total
	Assets:
	Metals swaps	$	-	$	1,350	$	-	$	1,350
	Total assets at fair value	$	-	$	1,350	$	-	$	1,350
	Liabilities:
	Embedded customer derivative	$	-	$	1,350	$	-	$	1,350
	Interest rate swap (CTI)		-		162		-		162
	Fixed interest rate swap (ABL)		-		351		-		351
	Total liabilities recorded at fair value	$	-	$	1,863	$	-	$	1,863
		Value of Items Recorded at Fair Value
		As of December 31, 2014
	(in thousands)	Level 1		Level 2		Level 3		Total
	Assets:
	Embedded customer derivative	$	-	$	487	$	-	$	487
	Total assets at fair value	$	-	$	487	$	-	$	487
	Liabilities:
	Metals swaps	$	-	$	487	$	-	$	487
	Interest rate swap (CTI)		-		178		-		178
	Fixed interest rate swap (ABL)		-		386		-		386
	Total liabilities recorded at fair value	$	-	$	1,051	$	-	$	1,051
Fair Value, by Balance Sheet Grouping [Table Text Block]		Value of Items Not Recorded at Fair Value
		As of March 31, 2015
	(in thousands)	Level 1		Level 2		Level 3		Total
	Liabilities:
	IRB	$	3,530	$	-	$	-	$	3,530
	Revolver		-		234,100		-		234,100
	Total liabilities not recorded at fair value	$	3,530	$	234,100	$	-	$	237,630
		Value of Items Not Recorded at Fair Value
		As of December 31, 2014
	(in thousands)	Level 1		Level 2		Level 3		Total
	Liabilities:
	IRB	$	3,530	$	-	$	-	$	3,530
	Revolver		-		244,090		-		244,090
	Total liabilities not recorded at fair value	$	3,530	$	244,090	$	-	$	247,620

Note_8_Equity_Plans_Tables

Note 8 - Equity Plans (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]							Weighted Average		Aggregate Intrinsic
		Number of			Weighted Average		Remaining		Value
		Options			Exercise Price		Contractual Term		(in thousands)
	Outstanding at December 31, 2014		20,170		$	32.63
	Granted		-			-
	Exercised		-			-
	Canceled		(1,000	)		32.63
	Outstanding at March 31, 2015		19,170		$	32.63		2.08	$	-
	Exercisable at March 31, 2015		19,170		$	32.63		2.08	$	-
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]		For the Three Months Ended
		March 31,
		2015			2014
	(in thousands, except per share data)
	RSU expense before taxes	$	231		$	253
	RSU expense after taxes	$	141		$	157
	Impact per basic share	$	0.01		$	0.01
	Impact per diluted share	$	0.01		$	0.01
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]							Aggregate
		Number of			Weighted Average		Intrinsic Value
		Shares			Granted Price		(in thousands)
	Outstanding at December 31, 2014		238,023		$	25.11
	Granted		69,771			14.54
	Converted into shares		(1,582	)		16.92
	Forfeited		-			-
	Outstanding at March 31, 2015		306,212		$	22.61	$	-
	Vested at March 31, 2015		277,696		$	22.53	$	-

Note_10_Shares_Outstanding_and1

Note 10 - Shares Outstanding and Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]		For the Three Months Ended
		March 31,
	(in thousands, except per share data)	2015		2014
	Weighted average basic shares outstanding		11,195		11,089
	Assumed exercise of stock options and issuance of stock awards		-		1
	Weighted average diluted shares outstanding		11,195		11,090
	Net income	$	1,069	$	2,777
	Basic earnings per share	$	0.1	$	0.25
	Diluted earnings per share	$	0.1	$	0.25
	Anti-dilutive securities outstanding		283		199

Note_11_Segment_Information_Ta

Note 11 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]		For the Three Months Ended
		March 31,
	(in thousands)	2015			2014
	Net sales
	Carbon flat products	$	228,545		$	239,715
	Specialty metals flat products		52,631			46,138
	Tubular and pipe products		64,689			61,060
	Total net sales	$	345,865		$	346,913
	Depreciation and amortization
	Carbon flat products	$	3,161		$	4,022
	Specialty metals flat products		160			195
	Tubular and pipe products		1,466			1,434
	Corporate		25			25
	Total depreciation and amortization	$	4,812		$	5,676
	Operating income
	Carbon flat products	$	350		$	3,406
	Specialty metals flat products		710			1,442
	Tubular and pipe products		4,254			3,437
	Corporate expenses		(1,969	)		(2,056	)
	Total operating income	$	3,345		$	6,229
	Other income (loss), net		(31	)		2
	Income before interest and income taxes		3,314			6,231
	Interest and other expense on debt		1,563			1,754
	Income before income taxes	$	1,751		$	4,477
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]		March 31,
	(in thousands)	2015			2014
	Capital expenditures
	Flat products segments	$	1,188		$	1,017
	Tubular and pipe products		503			1,320
	Corporate		-			4
	Total capital expenditures	$	1,691		$	2,341
Reconciliation of Assets from Segment to Consolidated [Table Text Block]		As of
		March 31,			December 31,
	(in thouands)	2015			2014
	Goodwill
	Flat products segments	$	500		$	500
	Tubular and pipe products		16,451			16,451
	Total goodwill	$	16,951		$	16,951
	Assets
	Flat products segments	$	483,796		$	496,253
	Tubular and pipe products		207,765			203,937
	Corporate		533			558
	Total assets	$	692,094		$	700,748

Note_1_Basis_of_Presentation_D

Note 1 - Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2015
Note 1 - Basis of Presentation (Details) [Line Items]
Number of Reportable Segments	3
Carbon Flat Products And Specialty Metals Flat Products [Member]
Note 1 - Basis of Presentation (Details) [Line Items]
Number of Reportable Segments	2

Note_2_Accounts_Receivable_Det

Note 2 - Accounts Receivable (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Receivables [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$2.90	$2.90

Note_3_Inventories_Details

Note 3 - Inventories (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
LIFO Inventory Amount	$46,500,000	$46,600,000
Percentage of LIFO Inventory	16.60%	15.00%
Inventory, LIFO Reserve, Period Charge	250,000
Inventory Difference Using FIFO Basis	$3,500,000	$3,200,000

Note_3_Inventories_Details_Ste

Note 3 - Inventories (Details) - Steel Inventories (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Steel Inventories [Abstract]
Unprocessed	$218,019	$238,226
Processed and finished	62,247	72,882
Totals	$280,266	$311,108

Note_4_Goodwill_and_Intangible2

Note 4 - Goodwill and Intangible Assets (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Mar. 31, 2015
Note 4 - Goodwill and Intangible Assets (Details) [Line Items]
Goodwill, Impairment Loss	$23,800,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year		889,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five		889,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two		889,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three		889,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four		889,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five		889,000
Minimum [Member]
Note 4 - Goodwill and Intangible Assets (Details) [Line Items]
Goodwill Impairment Change If 1% Change to Weighted Average Cost of Capital		16,000,000
Goodwill Impairment Change If 1% Change to Terminal Growth Rate		10,000,000
Maximum [Member]
Note 4 - Goodwill and Intangible Assets (Details) [Line Items]
Goodwill Impairment Change If 1% Change to Weighted Average Cost of Capital		17,000,000
Goodwill Impairment Change If 1% Change to Terminal Growth Rate		$13,000,000

Note_4_Goodwill_and_Intangible3

Note 4 - Goodwill and Intangible Assets (Details) - Goodwill by Reportable Segment (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Goodwill [Line Items]
Balance as of	$16,951	$16,951
Flat Products [Member]
Goodwill [Line Items]
Balance as of	500	500
Tubular and Pipe Products [Member]
Goodwill [Line Items]
Balance as of	$16,451	$16,451

Note_4_Goodwill_and_Intangible4

Note 4 - Goodwill and Intangible Assets (Details) - Intangible Assets, Net (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Note 4 - Goodwill and Intangible Assets (Details) - Intangible Assets, Net [Line Items]
Customer Relationships, Accumulated Amortization	($3,333)	($3,111)
Gross Carrying Amount	36,757	36,757
Accumulated Amortization	-3,333	-3,111
Intangible Assets, Net	33,424	33,646
Trade Names [Member]
Note 4 - Goodwill and Intangible Assets (Details) - Intangible Assets, Net [Line Items]
Trade Name, Gross Carrying Amount	23,425	23,425
Trade Name, Intangible Assets, Net	23,425	23,425
Customer Relationships [Member]
Note 4 - Goodwill and Intangible Assets (Details) - Intangible Assets, Net [Line Items]
Customer Relationships, Gross Carrying Amount	13,332	13,332
Customer Relationships, Accumulated Amortization	-3,333	-3,111
Customer Relationships, Intangible Assets, Net	9,999	10,221
Accumulated Amortization	($3,333)	($3,111)

Note_5_Debt_Details

Note 5 - Debt (Details) (USD $)	3 Months Ended	0 Months Ended	1 Months Ended
	Mar. 31, 2015	Apr. 02, 2015	Jul. 31, 2011	Dec. 31, 2014	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2014
Note 5 - Debt (Details) [Line Items]
Prepaid Expense and Other Assets, Current	$15,359,000			$20,434,000
Derivative, Fixed Interest Rate	1.21%
Effect of Swap Interest Rate Agreement	3.46%
Availability Dollar Amount [Member] | ABL Credit Facility [Member] | Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility Covenant Terms Monetary	30,000,000
ABL Credit Facility [Member] | Minimum [Member] | Base Rate [Member] | Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.00%
ABL Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%
ABL Credit Facility [Member] | Maximum [Member] | Base Rate [Member] | Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.25%
ABL Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.00%
ABL Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member]
Note 5 - Debt (Details) [Line Items]
Long-term Line of Credit					53,200,000
ABL Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member]
Note 5 - Debt (Details) [Line Items]
Long-term Line of Credit						53,200,000
ABL Credit Facility [Member] | Term Loan [Member]
Note 5 - Debt (Details) [Line Items]
Other Long-term Debt							44,500,000
ABL Credit Facility [Member] | Asset-Based Revolving Credit Facility Due June 30, 2016 [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity							315,000,000
ABL Credit Facility [Member] | Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	365,000,000
Line of Credit Facility, Current Borrowing Capacity	365,000,000
Line of Credit Facility, Covenant Terms, Percentage of Revolver Commitments	10.00%
Balance Required for Compliance with Revolver Commitments	36,500,000
ABL Credit Facility [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	103,000,000
Debt Instrument, Periodic Payment, Principal		840,000
Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility Covenant Terms EBITDA Ratio	1
Minimum [Member]
Note 5 - Debt (Details) [Line Items]
Derivative Premium Rate	1.75%
Maximum [Member]
Note 5 - Debt (Details) [Line Items]
Derivative Premium Rate	2.25%
Chicago Tube and Iron Company Acquisition [Member] | Industrial Revenue Bond [Member]
Note 5 - Debt (Details) [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred			5,900,000
Debt Instrument, Interest Rate, Effective Percentage	0.14%
Amortized Banking Fees [Member]
Note 5 - Debt (Details) [Line Items]
Prepaid Expense and Other Assets, Current	3,300,000
Interest Rate Swap [Member]
Note 5 - Debt (Details) [Line Items]
Long-term Line of Credit	37,900,000
Fixed Rate Interest Hedge, Notional Monthly Decrease	$729,000

Note_5_Debt_Details_Debt

Note 5 - Debt (Details) - Debt (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Note 5 - Debt (Details) - Debt [Line Items]
Asset-based revolving credit facility due June 30, 2019	$234,100	$244,090
Total debt	237,630	247,620
Less current amount	-3,530	-3,530
Total long-term debt	234,100	244,090
Industrial Revenue Bond [Member]
Note 5 - Debt (Details) - Debt [Line Items]
Industrial revenue bond due April 1, 2018	3,530	3,530
Asset-Based Revolving Credit Facility Due June 30, 2019 [Member]
Note 5 - Debt (Details) - Debt [Line Items]
Asset-based revolving credit facility due June 30, 2019	$234,100	$244,090

Note_6_Derivative_Instruments_1

Note 6 - Derivative Instruments (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Jun. 30, 2012
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Fixed Interest Rate	1.21%
Cash Flow Hedging [Member] | Minimum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative Premium Rate	1.75%
Cash Flow Hedging [Member] | Maximum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative Premium Rate	1.25%
Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Long-term Line of Credit (in Dollars)	$37,900,000
Fixed Rate Interest Hedge, Notional Monthly Decrease (in Dollars)	729,000
Cash Flow Hedging [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Fixed Interest Rate	1.21%
Nickel Swaps [Member] | Minimum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Remaining Maturity	1 month
Nickel Swaps [Member] | Maximum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Remaining Maturity	14 months
Carbon Swaps [Member] | Prepaid Expenses and Other Current Assets [Member] | Minimum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Remaining Maturity	1 month
Carbon Swaps [Member] | Prepaid Expenses and Other Current Assets [Member] | Maximum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Remaining Maturity	9 months
Carbon Swaps [Member] | Minimum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Remaining Maturity	1 month
Carbon Swaps [Member] | Maximum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative, Remaining Maturity	9 months
ABL Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Long-term Line of Credit (in Dollars)		53,200,000
Minimum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative Premium Rate	1.75%
Maximum [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Derivative Premium Rate	2.25%
Interest Rate Swap [Member]
Note 6 - Derivative Instruments (Details) [Line Items]
Long-term Line of Credit (in Dollars)	37,900,000
Fixed Rate Interest Hedge, Notional Monthly Decrease (in Dollars)	$729,000

Note_6_Derivative_Instruments_2

Note 6 - Derivative Instruments (Details) - Impact to Consolidated Statements of Operations of Derivatives (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Note 6 - Derivative Instruments (Details) - Impact to Consolidated Statements of Operations of Derivatives [Line Items]
Derivative Instrument	($116)	($153)
Chicago Tube and Iron Company Acquisition [Member] | Interest Rate Swap [Member]
Note 6 - Derivative Instruments (Details) - Impact to Consolidated Statements of Operations of Derivatives [Line Items]
Derivative Instrument	-17	-29
Interest Rate Swap [Member] | ABL Credit Facility [Member]
Note 6 - Derivative Instruments (Details) - Impact to Consolidated Statements of Operations of Derivatives [Line Items]
Derivative Instrument	-99	-124
Metals Swap [Member]
Note 6 - Derivative Instruments (Details) - Impact to Consolidated Statements of Operations of Derivatives [Line Items]
Derivative Instrument	-1,117	655
Embedded Derivative Financial Instruments [Member]
Note 6 - Derivative Instruments (Details) - Impact to Consolidated Statements of Operations of Derivatives [Line Items]
Derivative Instrument	$1,117	($655)

Note_7_Fair_Value_of_Financial2

Note 7 - Fair Value of Financial Instruments (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Note 7 - Fair Value of Financial Instruments (Details) [Line Items]
Long-term Line of Credit, Noncurrent	$234,100,000	$244,090,000
Fair Value, Inputs, Level 1 [Member] | Industrial Revenue Bond [Member]
Note 7 - Fair Value of Financial Instruments (Details) [Line Items]
Long-term Debt, Fair Value	3,500,000	3,500,000
Industrial Revenue Bond [Member]
Note 7 - Fair Value of Financial Instruments (Details) [Line Items]
Long-term Debt	3,500,000	3,500,000
Revolving Credit Facility [Member]
Note 7 - Fair Value of Financial Instruments (Details) [Line Items]
Long-term Line of Credit, Noncurrent	$234,100,000	$244,100,000

Note_7_Fair_Value_of_Financial3

Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded (Fair Value, Measurements, Recurring [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Total assets at fair value	$1,350	$487
Embedded customer derivative	1,350
Total liabilities at fair value	1,863	1,051
Embedded customer derivative		487
Chicago Tube and Iron Company Acquisition [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Interest rate swap	162	178
Chicago Tube and Iron Company Acquisition [Member] | Interest Rate Swap [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Interest rate swap	162	178
Fair Value, Inputs, Level 2 [Member] | Metals Swap [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Metals swaps	1,350
Metals swaps		487
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ABL Credit Facility [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Interest rate swap	351	386
Fair Value, Inputs, Level 2 [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Total assets at fair value	1,350	487
Embedded customer derivative	1,350
Total liabilities at fair value	1,863	1,051
Embedded customer derivative		487
Metals Swap [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Metals swaps	1,350
Metals swaps		487
Interest Rate Swap [Member] | ABL Credit Facility [Member]
Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Recorded [Line Items]
Interest rate swap	$351	$386

Note_7_Fair_Value_of_Financial4

Note 7 - Fair Value of Financial Instruments (Details) - Fair Value Measurements, Not Recorded (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolver	$234,100	$244,090
Carrying Value [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities not recorded at fair value	3,530	3,530
Carrying Value [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities not recorded at fair value	234,100	244,090
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities not recorded at fair value	237,630	247,620
Industrial Revenue Bond [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	3,530	3,530
Industrial Revenue Bond [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt	3,530	3,530
Total liabilities not recorded at fair value	3,500	3,500
Revolver [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolver	234,100	244,090
Revolver [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolver	$234,100	$244,090

Note_8_Equity_Plans_Details

Note 8 - Equity Plans (Details) (USD $)	3 Months Ended		0 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 01, 2015	Mar. 01, 2014	Sep. 30, 2014
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		7,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars)		$103
Share-based Compensation Arrangement by Share-based Payment Award, Minimum Number of Shares Per Employee	750
Share-based Compensation Arrangement by Share-based Payment Award, Matching Purchase Requirement	500
Share-based Compensation Arrangement by Share-based Payment Award, Award Match	250
Restricted Stock Units Units Number Converted	1,582	0
Five Year Anniversary [Member] | Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested (in Dollars)	25
Ten Year Anniversary [Member] | Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested (in Dollars)	50
Fifteen Year Anniversary [Member] | Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested (in Dollars)	75
Twenty Year Anniversary [Member] | Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested (in Dollars)	100
Twenty Five Year Anniversary [Member] | Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested (in Dollars)	100
Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	69,771		4,639	2,544
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					1 year
Match [Member]
Note 8 - Equity Plans (Details) [Line Items]
Shares Matched	6,500	4,750
Common Stock [Member]
Note 8 - Equity Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	500,000
Share Price (in Dollars per share)			15.09	27.51

Note_8_Equity_Plans_Details_St

Note 8 - Equity Plans (Details) - Stock Option Activity (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Stock Option Activity [Abstract]
Outstanding, Number of Options	19,170	20,170
Outstanding, Weighted Average Exercise Price	$32.63	$32.63
Outstanding, Weighted Average Remaining Contractual Term	2 years 29 days
Exercisable at March 31, 2015	19,170
Exercisable at March 31, 2015	$32.63
Exercisable at March 31, 2015	2 years 29 days
Canceled	-1,000
Canceled	$32.63

Note_8_Equity_Plans_Details_St1

Note 8 - Equity Plans (Details) - Stock Based Compensation Expense Recognized on Restricted Stock Units (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Impact per basic share	$0.10	$0.25
Impact per diluted share	$0.10	$0.25
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
RSU expense before taxes	$231	$253
RSU expense after taxes	$141	$157
Impact per basic share	$0.01	$0.01
Impact per diluted share	$0.01	$0.01

Note_8_Equity_Plans_Details_Re

Note 8 - Equity Plans (Details) - Restricted Stock Unit Activity (Restricted Stock Units (RSUs) [Member], USD $)	0 Months Ended		3 Months Ended
	Mar. 01, 2015	Mar. 01, 2014	Mar. 31, 2015	Dec. 31, 2014
Restricted Stock Units (RSUs) [Member]
Note 8 - Equity Plans (Details) - Restricted Stock Unit Activity [Line Items]
Outstanding at			306,212	238,023
Outstanding at			$22.61	$25.11
Vested at March 31, 2015			277,696
Vested at March 31, 2015			$22.53
Granted	4,639	2,544	69,771
Granted			$14.54
Converted into shares			-1,582
Converted into shares			$16.92

Note_9_Income_Taxes_Details

Note 9 - Income Taxes (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$682	$1,700
Effective Income Tax Rate Reconciliation, Percent	38.90%	38.00%

Note_10_Shares_Outstanding_and2

Note 10 - Shares Outstanding and Earnings Per Share (Details) - Earnings Per Share (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Weighted average basic shares outstanding	11,195	11,089
Assumed exercise of stock options and issuance of stock awards		1
Weighted average diluted shares outstanding	11,195	11,090
Net income (in Dollars)	$1,069	$2,777
Basic earnings per share (in Dollars per share)	$0.10	$0.25
Diluted earnings per share (in Dollars per share)	$0.10	$0.25
Anti-dilutive securities outstanding	283	199

Note_11_Segment_Information_De

Note 11 - Segment Information (Details)	3 Months Ended
	Mar. 31, 2015
Note 11 - Segment Information (Details) [Line Items]
Number of Reportable Segments	3
Carbon Flat Products And Specialty Metals Flat Products [Member]
Note 11 - Segment Information (Details) [Line Items]
Number of Reportable Segments	2

Note_11_Segment_Information_De1

Note 11 - Segment Information (Details) - Segment Reporting Information by Revenue (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net sales
Net sales	$345,865	$346,913
Depreciation and amortization
Depreciation and Amortization	4,812	5,676
Operating income
Operating Income (Loss)	3,345	6,229
Other income (loss), net	-31	2
Income before interest and income taxes	3,314	6,231
Interest and other expense on debt	1,563	1,754
Income before income taxes	1,751	4,477
Carbon Flat Products [Member]
Net sales
Net sales	228,545	239,715
Depreciation and amortization
Depreciation and Amortization	3,161	4,022
Operating income
Operating Income (Loss)	350	3,406
Specialty Metal Flat Products [Member]
Net sales
Net sales	52,631	46,138
Depreciation and amortization
Depreciation and Amortization	160	195
Operating income
Operating Income (Loss)	710	1,442
Tubular and Pipe Products [Member]
Net sales
Net sales	64,689	61,060
Depreciation and amortization
Depreciation and Amortization	1,466	1,434
Operating income
Operating Income (Loss)	4,254	3,437
Corporate Segment [Member]
Depreciation and amortization
Depreciation and Amortization	25	25
Operating income
Operating Income (Loss)	($1,969)	($2,056)

Note_11_Segment_Information_De2

Note 11 - Segment Information (Details) - Segment Reporting Information by Capital Expenditures (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$1,691	$2,341
Flat Products [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	1,188	1,017
Tubular and Pipe Products [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	503	1,320
Corporate Segment [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures		$4

Note_11_Segment_Information_De3

Note 11 - Segment Information (Details) - Segment Reporting Information by Assets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$16,951	$16,951
Assets	692,094	700,748
Flat Products [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	500	500
Assets	483,796	496,253
Tubular and Pipe Products [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	16,451	16,451
Assets	207,765	203,937
Corporate Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$533	$558