Olympic Steel (ZEUS) 10-K 2 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 02, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	OLYMPIC STEEL INC
Entity Central Index Key	917,470
Trading Symbol	zeus
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,963,863
Entity Public Float			$ 247,703,193
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Net sales		$ 1,055,116		$ 1,175,543		$ 1,436,270
Costs and expenses
Cost of materials sold (excludes items shown separately below)		820,040		942,214		1,160,310
Warehouse and processing		79,521		85,411		92,170
Administrative and general		63,054		64,987		72,219
Distribution		36,490		36,073		41,312
Selling		23,060		21,158		24,799
Occupancy		8,718		9,492		10,052
Depreciation		17,596		18,147		19,891
Amortization		889		889		889
Goodwill and intangible asset impairment	[1]			24,951		23,836
Total costs and expenses		1,049,368		1,203,322		1,445,478
Operating income (loss)		5,748	[2]	(27,779)	[3]	(9,208)
Other loss, net		(55)		(125)		(126)
Income (loss) before interest and income taxes		5,693		(27,904)		(9,334)
Interest and other expense on debt		5,273		5,690		6,780
Income (loss) before income taxes		420		(33,594)		(16,114)
Income tax provision (benefit)		1,498		(6,817)		2,950
Net loss		(1,078)		(26,777)		(19,064)
Gain (loss) on cash flow hedges		114		(1,816)		12
Tax effect of hedges		(44)		699		(125)
Reclassification of loss included in net income, net of tax of $804 for 2015				1,596
Total comprehensive loss		$ (1,008)		$ (26,298)		$ (19,177)
Net loss per share - basic (in dollars per share)		$ (0.10)		$ (2.39)		$ (1.71)
Weighted average shares outstanding - basic (in shares)		11,210		11,192		11,120
Net loss per share - diluted (in dollars per share)		$ (0.10)		$ (2.39)		$ (1.71)
Weighted average shares outstanding - diluted (in shares)		11,210		11,192		11,120
Dividends declared per share of common stock (in dollars per share)		$ 0.08		$ 0.08		$ 0.08
[1]	$24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment. The goodwill impairment in 2014 related to the tubular and pipe products segment.
[2]	Operating income (loss) includes $1,489 of LIFO income related to the Company's tubular and pipe products segment.
[3]	Operating income (loss) includes $3,347 of LIFO income related to the Company's tubular and pipe products segment as well as a $16,451 goodwill impairment charge and a $8,000 intangible asset impairment charge recorded in the second quarter related to the Company's tubular and pipe products segment and a $500 goodwill impairment charge recorded in the fourth quarter related to the specialty metals flat products segment.

Consolidated Statements of Com3

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income tax, reclassification		$ 804

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 2,315	$ 1,604
Accounts receivable, net	101,902	92,877
Inventories, net (includes LIFO debit of $8,045 and $6,555 as of December 31, 2016 and 2015, respectively)	254,526	206,645
Prepaid expenses and other	6,197	7,820
Total current assets	364,940	308,946
Property and equipment, at cost	374,242	372,129
Accumulated depreciation	(218,476)	(205,591)
Net property and equipment	155,766	166,538
Intangible assets, net	23,869	24,757
Other long-term assets	11,493	11,639
Total assets	556,068	511,880
Liabilities
Current portion of long-term debt	1,825	2,690
Accounts payable	79,458	55,685
Accrued payroll	8,445	6,884
Other accrued liabilities	15,170	11,801
Total current liabilities	104,898	77,060
Credit facility revolver	164,599	145,800
Other long-term liabilities	10,062	9,829
Deferred income taxes	23,119	24,496
Total liabilities	302,678	257,185
Commitments and contingencies (Note 11)
Shareholders' Equity
Preferred stock, without par value, 5,000 shares authorized, no shares issued or outstanding
Common stock, without par value, 20,000 shares authorized, 10,963 and 10,955 shares issued and outstanding	128,619	128,129
Treasury stock, at cost, 57 and 65 shares held	(609)	(699)
Accumulated other comprehensive loss		(70)
Retained earnings	125,380	127,335
Total shareholders' equity	253,390	254,695
Total liabilities and shareholders' equity	$ 556,068	$ 511,880

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
LIFO debit	$ 8,045	$ 6,555
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	5,000	5,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	20,000	20,000
Common stock, shares issued (in shares)	10,963	10,955
Common stock, shares outstanding (in shares)	10,963	10,955
Treasury stock, shares (in shares)	57	65

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from (used for) operating activities:
Net loss		$ (1,078)	$ (26,777)	$ (19,064)
Adjustments to reconcile net income (loss) to net cash from operating activities -
Depreciation and amortization		19,402	19,873	21,840
Goodwill and Intangible Asset Impairment	[1]		24,951	23,836
(Gain) loss on disposition of property and equipment		(376)	15	248
Stock-based compensation		534	1,759	2,074
Other long-term assets		(638)	44	(766)
Other long-term liabilities		(1,074)	(7,500)	(2,754)
		16,770	12,365	25,414
Changes in working capital:
Accounts receivable		(9,025)	30,927	(8,516)
Inventories		(47,881)	104,463	(24,737)
Prepaid expenses and other		1,620	13,808	(7,648)
Accounts payable		28,619	(21,923)	(24,090)
Change in outstanding checks		(4,846)	(13,644)	(10,670)
Accrued payroll and other accrued liabilities		4,930	(18,511)	10,663
		(26,583)	95,120	(64,998)
Net cash from (used for) operating activities		(9,813)	107,485	(39,584)
Cash flows from (used for) investing activities:
Capital expenditures		(6,824)	(7,317)	(7,834)
Proceeds from disposition of property and equipment		376	3	68
Net cash used for investing activities		(6,448)	(7,314)	(7,766)
Cash flows from (used for) financing activities:
Credit facility revolver borrowings		307,298	311,372	632,726
Credit facility revolver repayments		(288,499)	(409,662)	(534,711)
Term loan repayments				(48,854)
Industrial revenue bond repayments		(865)	(840)	(810)
Credit facility fees and expenses		(131)	(127)	(1,218)
Proceeds from exercise of stock options (including tax benefits) and employee stock purchases		46	30	147
Repurchase of common stock			(699)
Dividends paid		(877)	(879)	(878)
Net cash from (used for) financing activities		16,972	(100,805)	46,402
Net change		711	(634)	(948)
Beginning balance		1,604	2,238	3,186
Ending balance		2,315	1,604	2,238
Cash paid during the period
Interest paid		4,300	5,083	5,793
Income taxes paid		$ 982	$ 565	$ 4,658
[1]	$24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment. The goodwill impairment in 2014 related to the tubular and pipe products segment.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2013	$ 124,118		$ (437)	$ 174,935	$ 298,616
Net loss				(19,064)	(19,064)
Payment of dividends				(878)	(878)
Exercise of stock options and employee stock purchases (7 shares)	147				147
Stock-based compensation	2,074				2,074
Changes in fair value of hedges			(113)		(113)
Other			1	(2)	(1)
Balance at Dec. 31, 2014	126,339		(549)	154,991	280,781
Net loss				(26,777)	(26,777)
Payment of dividends				(879)	(879)
Exercise of stock options and employee stock purchases (7 shares)	30				30
Stock-based compensation	1,759				1,759
Changes in fair value of hedges			479		479
Other	1				1
Balance at Dec. 31, 2015	128,129	$ (699)	(70)	127,335	254,695
Repurchase of common stock		(699)			(699)
Net loss				(1,078)	(1,078)
Payment of dividends				(877)	(877)
Exercise of stock options and employee stock purchases (7 shares)	46				46
Stock-based compensation	444	90			534
Changes in fair value of hedges			$ 70		70
Balance at Dec. 31, 2016	$ 128,619	$ (609)		$ 125,380	$ 253,390

Consolidated Statements of Sto8

Consolidated Statements of Stockholders' Equity (Parentheticals) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Common Stock [Member]
Exercise of stock options and employee stock purchases, shares (in shares)	3	2	7

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies : Nature of Business The Company is a leading U.S. metals service center specializing in the processing and distribution of large volumes of carbon, coated, aluminum and stainless steel, flat-rolled coil, sheet and plate products and tubular and pipe products from facilities throughout the United States. The Company operates in three Principles of Consolidation and Basis of presentation The accompanying consolidated financial statements include the accounts of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, the Company or Olympic), after elimination of intercompany accounts and transactions. Reclassifications and revisions Certain prior year amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year's presentation. Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentration Risks The Company is a major customer of flat-rolled coil and plate and tubular and pipe steel for many of its principal suppliers, but is not dependent on any one 54%, 51% 43% three 2016, 2015 2014, The Company has a diversified customer and geographic base, which reduces the inherent risk and cyclicality of its business. The concentration of net sales to the Company’s top 20 29%, 31% 29% 2016, 2015 2014, 4%, 6% 6% 2016, 2015 2014, 51%, 49% 51% 2016, 2015 2014, Cash and Cash Equivalents Cash equivalents consist of short-term highly liquid investments, with a three Fair Market Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the liability in an orderly transaction between market participants on the measurement date. 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 first two Level 1 Level 2 1 Level 3 Financial instruments, such as cash and cash equivalents, accounts receivable, accounts payable and the credit facility revolver, are stated at their carrying value, which is a reasonable estimate of fair value. The fair value of marketable securities is based on quoted market prices. Accounts Receivable The Company’s allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that the Company has 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. Inventories Inventories are stated at the lower of cost or market and include the costs of purchased metals, inbound freight, external processing and applicable labor and overhead costs. Costs of our carbon and specialty metals flat products segments’ inventories, including flat-rolled sheet, coil and plate products are determined using the specific identification method. Certain of the Company’s tubular and pipe products inventory is stated under the last-in, first December 31, 2016 December 31, 2015, $43.4 17.1% $42.7 20.7% first first On the Consolidated Statements of Comprehensive Income, “Cost of materials sold (exclusive of items shown separately below)” consists of the cost of purchased metals, inbound and internal transfer freight, external processing costs, and LIFO income or expense. Property and Equipment, and Depreciation Property and equipment are stated at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ranging from two 30 five Intangible Assets and Recoverability of Long-lived Assets The Company performs an annual impairment test of indefinite-lived intangible assets for the tubular and pipe products segment in the fourth If a quantitative fair value measurement is used, the fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. The Company estimates the fair value of indefinite-lived intangible assets using a discounted cash flow methodology. Management’s assumptions used for the calculations are based on historical results, projected financial information and recent economic events. Actual results could differ from these estimates under different assumptions or conditions which could adversely affect the reported value of intangible assets. The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives whenever events or changes in circumstances indicate that the carrying value may may Income Taxes The Company, on its consolidated balance sheets, records as an offset to the estimated effect of temporary differences between the tax basis of assets and liabilities and the reported amounts in its consolidated balance sheets, the tax effect of operating loss and tax credit carryforwards. If the Company determines that it will not be able to fully realize a deferred tax asset, it will record a valuation allowance to reduce such deferred tax asset to its realizable value. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. Penalties, if incurred, would be recognized as a component of administrative and general expense. Revenue Recognition For both direct and toll shipments, revenue is recognized when title and risk of loss is transferred, which generally occurs upon delivery to our customers. Given the proximity of the Company’s customers to its facilities, substantially all of the Company’s sales are shipped and received within one Certain engineered products produced by the tubular and pipe products segment typically take several months to produce due to their size and complexity. Substantially all projects are completed within nine may 1.7%, 1.8% 1.7% 2016, 2015 2014, Shipping and Handling Fees and Costs Amounts charged to customers for shipping and other transportation services are included in net sales. The distribution expense line on the accompanying Consolidated Statements of Comprehensive Income is entirely comprised of all shipping and other transportation costs incurred by the Company in shipping goods to its customers. Stock-Based Compensation The Company records compensation expense for stock awards issued to employees and directors. For additional information, see Note 10, Impact of Recently Issued Accounting Pronouncements In August 2016, 2016 15, eight zero December 15, 2017, In March 2016, 2016 09, December 15, 2016 In February 2016, 2016 02, December 15, 2018 In November 2015, 2015 17, one one December 15, 2016, may January 1, 2016 In April 2015, 2015 03, December 15, 2015, 2015 03 January 1, 2016 In August 2014, 2014 15, one December 15, 2016, In May 2014, 2014 09, December 15, 2016, August 2015, 2015 14, 2014 09 one

Note 2 - Accounts Receivable

Note 2 - Accounts Receivable	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Financing Receivables [Text Block]	2. Accounts Receivable: Accounts receivable are presented net of allowances for doubtful accounts and unissued credits of $2.4 $3.1 December 31, 2016 2015, $0.4 2016, $0.5 2015 2014. The Company’s allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that the Company has 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.

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories : Inventories consisted of the following: As of December 31, (in thousands) 2016 2015 Unprocessed $ 203,256 $ 163,942 Processed and finished 51,270 42,703 Totals $ 254,526 $ 206,645 During 2016 2015, $1.5 $3.3 2016 2015. If the FIFO method had been in use, inventories would have been $8.0 $6.6 December 31, 2016 2015,

Note 4 - Property and Equipment

Note 4 - Property and Equipment	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Property and Equipment: Property and equipment consists of the following: (in thousands) Depreciable Lives December 31, 2016 December 31, 2015 Land - $ 16,001 $ 16,001 Land improvements 5 - 10 3,133 2,799 Buildings and improvements 7 - 30 133,010 131,294 Machinery and equipment 2 - 15 185,676 185,555 Furniture and fixtures 3 - 7 6,311 6,582 Computer software and equipment 2 - 5 27,848 27,350 Vehicles 2 - 5 1,456 1,274 Construction in progress - 807 1,274 374,242 372,129 Less accumulated depreciation (218,476 ) (205,591 ) Net property and equipment $ 155,766 $ 166,538 Leasehold improvements are included with buildings and improvements and are depreciated over the life of the lease or seven Construction in progress, as of December 31, 2016,

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill and Intangible Assets : In accordance with the Accounting Standards Codification (ASC), an impairment test of indefinitely lived intangible assets is performed at least annually or more frequently if changes in circumstances or the occurrence of events indicate potential impairment. Events or changes in circumstances that could trigger an impairment review include significant nonperformance relative to the expected historical or projected future operating results, significant changes in the manner of the use of the acquired assets or the strategy for the overall business or significant negative industry or economic trends. During 2015, two second 2015, $8 fourth 2015 first Goodwill, by reportable segment, was as follows as of December 31, 2016 2015: (in thousands) Specialty Metals Flat Products Tubular and Pipe Products Total Balance as of December 31, 2014 $ 500 $ 16,451 $ 16,951 Acquisitions - - - Impairments (500 ) (16,451 ) (16,951 ) Balance as of December 31, 2015 $ - $ - $ - Acquisitions - - - Impairments - - - Balance as of December 31, 2016 $ - $ - $ - All of the Company’s intangible assets were recorded in connection with its July 1, 2011 fifteen fifteen During 2016, zero second 2015, Intangible assets, net, consisted of the following as of December 31, 2016 2015: As of December 31, 2016 (in thousands) Gross Carrying Amount Accumulated Amortization Impairments Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ (4,888 ) $ - $ 8,444 Trade name - not subject to amortization 15,425 - - 15,425 $ 28,757 $ (4,888 ) $ - $ 23,869 As of December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Impairments Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ (4,000 ) $ - $ 9,332 Trade name - not subject to amortization 23,425 - (8,000 ) 15,425 $ 36,757 $ (4,000 ) $ (8,000 ) $ 24,757 The Company estimates that amortization expense for its intangible assets subject to amortization will be $0.9 five

Note 6 - Debt

Note 6 - Debt	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	6. Debt: The Company’s debt is comprised of the following components: As of December 31, December 31, (in thousands) 2016 2015 Asset-based revolving credit facility due June 30, 2019 $ 164,599 $ 145,800 Industrial revenue bond due April 1, 2018 1,825 2,690 Total debt 166,424 148,490 Less current amount (1,825 ) (2,690 ) Total long-term debt $ 164,599 $ 145,800 The Company’s existing asset-based credit facility (the ABL Credit Facility) is collateralized by the Company’s accounts receivable and inventory. The ABL Credit Facility consists of a revolving credit line of $365 $365 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 10.0% ($36.5 December 31, 2016), 1.00 1.00 twelve 0.00% 0.25% 1.25% 3.00%. As of December 31, 2016, $94.3 As of December 31, 2016, $2.0 five As part of the CTI acquisition in July 2011, $5.9 April 2018, April 1st. April 1, 2016, $0.9 December 31, 2016 1.0% CTI entered into an interest rate swap agreement to reduce the impact of changes in interest rates on the above IRB. At December 31, 2016, 3.46%. April 2018, In June 2012, June 2013, $53.2 June 1, 2016, 1.21% 1.25% 1.75%. Scheduled Debt Maturities, Interest, Debt Carrying Values The Company’s principal payments over the next three (in thousands) 2017 2018 2019 Total ABL Credit Facility $ - $ - $ 164,599 $ 164,599 Industrial revenue bond 895 930 - 1,825 Total principal payments $ 895 $ 930 $ 164,599 $ 166,424 The overall effective interest rate for all debt, exclusive of deferred financing fees and deferred commitment fees, amounted to 2.4%, 2.1% 2.4% 2016, 2015 2014, $4.3 $5.1 $5.8 December 31, 2016, 2015 2014, $152.5 $211.2 $234.7 2016, 2015 2014,

Note 7 - Derivative Instruments

Note 7 - Derivative Instruments	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. Derivative Instruments: Metals swaps During 2016, 2015 2014, third 2014, third December 31, 2016 2015. one five December 31, 2016. third third 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 December 31, 2016 2015. In 2014, third December 31, 2016 2015. twelve December 31, 2015 $2.4 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 April 2018, 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, June 2013 $53.2 June 1, 2016, 1.21% 1.25% 1.75%. 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 years ended December 31, 2016, 2015 2014. December 31, 2016, 2015 2014. Net Gain (Loss) Recognized (in thousands) 2016 2015 2014 Interest rate swap (CTI) $ (66 ) $ (77 ) $ (100 ) Fixed interest rate swap (ABL) (98 ) (365 ) (472 ) Cash flow metals hedges - (2,400 ) (312 ) Metals swaps 68 (2,304 ) 934 Embedded customer derivatives (68 ) 2,304 (934 ) Total loss $ (164 ) $ (2,842 ) $ (884 )

Note 8 - Fair Value of Assets a

Note 8 - Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value of Assets and Liabilities: 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. During 2016 2015, 1, 2 3 December 31, 2016 December 31, 2015. December 31, 2016 December 31, 2015: Metals swaps and embedded customer derivatives 2 Interest rate swap 2 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 December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Assets: Embedded customer derivatives $ - $ 113 $ - $ 113 Total assets at fair value $ - $ 113 $ - $ 113 Liabilities: Metals swaps $ - $ 113 $ - $ 113 Interest rate swap (CTI) - 36 - 36 Total liabilities recorded at fair value $ - $ 149 $ - $ 149 Value of Items Not Recorded at Fair Value As of December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: IRB $ 1,825 $ - $ - $ 1,825 ABL Credit Facility - 164,599 - 164,599 Total liabilities not recorded at fair value $ 1,825 $ 164,599 $ - $ 166,424 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, 2015 (in thousands) Level 1 Level 2 Level 3 Total Assets: Embedded customer derivatives $ - $ 384 $ - $ 384 Total assets at fair value $ - $ 384 $ - $ 384 Liabilities: Metals swaps $ - $ 384 $ - $ 384 Interest rate swap (CTI) - 102 - 102 Fixed interest rate swap (ABL) - 114 - 114 Total liabilities recorded at fair value $ - $ 600 $ - $ 600 Value of Items Not Recorded at Fair Value As of December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: IRB $ 2,690 $ - $ - $ 2,690 ABL Credit Facility - 145,800 - 145,800 Total liabilities not recorded at fair value $ 2,690 $ 145,800 $ - $ 148,490 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 $1.8 $2.7 December 31, 2016 2015, The fair value of the ABL Credit Facility is determined using Level 2 $164.6 $145.8 December 31, 2016 2015, 2

Note 9 - Accumulated Other Comp

Note 9 - Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Other Comprehensive Income, Noncontrolling Interest [Text Block]	9. Accumulated Other Comprehensive Loss: In June 2012, July 2013 $53.2 June 1, 2016 $0.7 December 31, 2015 $31.4 December 31, 2015.

Note 10 - Equity Plans

Note 10 - Equity Plans	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. Equity Plans: Pursuant to the Amended and Restated Olympic Steel 2007 may 1,000,000 On May 1, 2016 March 1, 2015, 3,094 4,639 one $22.62 $15.09 May 1, 2016 March 1, 2015, On July 1, 2016, 10% $17,500. five July 1, 2016 January 1, 2017. Prior to July 1, 2016, 750 500 250 2016 2015, 2,500 9,000 five 10 15 20 25 $25 $50 $75 $100 $100 July 1, 2016 January 1, 2017. As part of the termination of the Old Plan and the transition to the New Plan, participants were paid the RSU grants that were earned to date, or a pro-rata amount of the RSUs earned, depending on the participants’ length of time they participated in the plan. After the payment of the RSUs noted above, the remaining liability of approximately $1.0 2016 718. During the third 2016, 10,573 fifth Stock-based compensation income or expense recognized on RSUs is summarized in the following table: For the years ended December 31, (in thousands) 2016 2015 2014 RSU expense before taxes of New Plan $ 42 $ - $ - RSU (income) expense before taxes of Old Plan $ (73 ) $ 1,047 $ 1,252 RSU (income) expense after taxes 81 631 774 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 twelve December 31, 2016: Number of Shares Weighted Average Estimated Fair Value Outstanding at December 31, 2015 287,894 $ 22.39 Granted 137,935 15.19 Converted into shares (3,239 ) 19.12 Forfeited (1,104 ) 18.03 Outstanding at December 31, 2016 421,486 $ 19.92 Vested at December 31, 2016 411,794 $ 19.89 Of the RSUs granted in 2016, 2015 2014, 51,075, 47,639 21,506, no 2016, 2015 2014.

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. Commitments and Contingencies : Operating Leases The Company leases certain warehouses, sales offices, machinery and equipment and vehicles under long-term operating lease agreements. The leases expire at various dates through 2024. $9.1 $8.7 $8.2 December 31, 2016, 2015 2014, The future annual minimum lease payments as of December 31, 2016 (in thousands) 2017 2018 2019 2020 2021 Thereafter Total Lease payments $ 6,634 $ 5,804 $ 4,511 $ 3,661 $ 2,574 $ 3,282 $ 26,466 Commitments and Contingencies The Company is party to various legal actions that it believes are ordinary in nature and incidental to the operation of its business. In the opinion of management, the outcome of the proceedings to which the Company is currently a party will not have a material adverse effect upon its results of operations, financial condition or cash flows. During 2016, $1.7 2015 In the normal course of business, the Company periodically enters into agreements that incorporate indemnification provisions. While the maximum amount to which the Company may At December 31, 2016, 280 nine Facility Expiration date Minneapolis plate, Minnesota March 31, 2017 Detroit, Michigan August 31, 2017 Duluth, Minnesota December 21, 2017 St. Paul, Minnesota May 25, 2018 Milan, Illinois August 12, 2018 Locust, North Carolina March 4, 2020 Romeoville, Illinois May 31, 2020 Minneapolis coil, Minnesota September 30, 2020 Indianapolis, Indiana January 29, 2021

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Taxes: The components of the Company’s provision (benefit) for income taxes from continuing operations were as follows: As of December 31, (in thousands) 2016 2015 2014 Current: Federal $ 2,563 $ (149 ) $ 4,859 State and local 929 (752 ) 657 3,492 (901 ) 5,516 Deferred (1,994 ) (5,916 ) (2,566 ) Income tax provision (benefit) $ 1,498 $ (6,817 ) $ 2,950 The components of the Company’s deferred income taxes at December 31 (in thousands) 2016 2015 Deferred tax assets: Inventory (excluding LIFO reserve) $ 2,531 $ 2,986 Net operating loss and tax credit carryforwards 3,224 2,926 Allowance for doubtful accounts 533 500 Accrued expenses 7,228 7,311 Other 169 143 13,685 13,866 Valuation reserve (2,017 ) (1,030 ) Total deferred tax assets 11,668 12,836 Deferred tax liabilities: LIFO reserve (5,874 ) (6,018 ) Property and equipment (19,846 ) (22,535 ) Intangibles (9,067 ) (9,396 ) Total deferred tax liabilities (34,787 ) (37,949 ) Deferred tax liabilities, net $ (23,119 ) $ (25,113 ) The following table summarizes the activity related to the Company’s gross unrecognized tax benefits: (in thousands) 2016 2015 2014 Balance as of January 1 $ 38 $ 58 $ 75 Decreases related to prior year tax positions - (20 ) (17 ) Increases related to current year tax positions 13 13 13 Decreases related to lapsing of statute of limitations (13 ) (13 ) (13 ) Balance as of December 31 $ 38 $ 38 $ 58 It is expected that the amount of unrecognized tax benefits will not materially change in the next twelve 2013 2015 The Company recognized interest related to uncertain tax positions in income tax expense. The following table reconciles the U.S. federal statutory rate to the Company’s effective tax rate: 2016 2015 2014 U.S. federal statutory rate 35.0% 35.0% 35.0% State and local taxes, net of federal benefit 11.8% 1.4% (1.6% ) Valuation allowance 205.4% 0.0% 0.0% Goodwill impairment 0.0% (17.1% ) (51.8% ) All other, net 104.4% 1.0% 0.1% Effective income tax rate 356.6% 20.3% (18.3% ) The Company's effective tax rate is disproportionately high in 2016 $0.8 $0.3 2016, $0.9 Income taxes paid in 2016, 2015 2014 $1.0 $0.6 $4.7 seven 20

Note 13 - Shares Outstanding an

Note 13 - Shares Outstanding and Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	13. 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 years ended December 31, (in thousands, except per share data) 2016 2015 2014 Weighted average basic shares outstanding 11,210 11,192 11,120 Assumed exercise of stock options and issuance of stock awards - - - Weighted average diluted shares outstanding 11,210 11,192 11,120 Net income (loss) $ (1,078 ) $ (26,777 ) $ (19,064 ) Basic earnings (loss) per share $ (0.10 ) $ (2.39 ) $ (1.71 ) Diluted earnings (loss) per share $ (0.10 ) $ (2.39 ) $ (1.71 ) Anti-dilutive securities outstanding 167 125 118

Note 14 - Stock Repurchase Prog

Note 14 - Stock Repurchase Program	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Treasury Stock [Text Block]	14. Stock Repurchase Program: On October 2, 2015, 550,000 may 10b5 1 may may $2.5 twelve $2.5 25% ($91.3 December 31, 2016) 15% ($54.8 December 31, 2016) 1.00 1.00. There were no shares repurchased during 2016. fourth 2015, 65,283 $10.71

Note 15 - Segment Information

Note 15 - Segment Information	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	15. 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. The Company operates in three 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 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 years ended December 31, 2016, 2015 2014. For the Year Ended December 31, (in thousands) 2016 2015 2014 Net sales Carbon flat products $ 670,983 $ 765,400 $ 985,039 Specialty metals flat products 189,930 192,516 206,692 Tubular and pipe products 194,203 217,627 244,539 Total net sales $ 1,055,116 $ 1,175,543 $ 1,436,270 Depreciation and amortization Carbon flat products $ 11,690 $ 12,200 $ 14,250 Specialty metals flat products 797 698 805 Tubular and pipe products 5,896 6,036 5,624 Corporate 102 102 101 Total depreciation and amortization $ 18,485 $ 19,036 $ 20,780 Operating income Carbon flat products $ (4,371 ) $ (7,217 ) $ 6,306 Specialty metals flat products 9,841 (1,074 ) 6,109 Tubular and pipe products 7,713 12,583 10,185 Corporate (7,435 ) (7,120 ) (7,972 ) Goodwill and intangible asset impairment (a) - (24,951 ) (23,836 ) Total operating income (loss) $ 5,748 $ (27,779 ) $ (9,208 ) Other loss, net (55 ) (125 ) (126 ) Income (loss) before interest and income taxes 5,693 (27,904 ) (9,334 ) Interest and other expense on debt 5,273 5,690 6,780 Income (loss) before income taxes $ 420 $ (33,594 ) $ (16,114 ) (a) $24,451 2015 $500 2014 tubular and pipe products segment. (in thousands) 2016 2015 2014 Capital expenditures Flat products $ 5,105 $ 4,295 $ 4,540 Tubular and pipe products 1,719 3,022 3,273 Corporate - - 21 Total capital expenditures $ 6,824 $ 7,317 $ 7,834 Assets Flat products $ 363,626 $ 328,295 Tubular and pipe products 192,088 183,129 Corporate 354 456 Total assets $ 556,068 $ 511,880 There were no material revenue transactions between the carbon flat products, specialty metals flat products and tubular and pipe products segments for the years ended December 31, 2016, 2015 2014. The Company sells certain products internationally, primarily in Canada, Mexico and Dominican Republic. International sales have been immaterial to the consolidated financial results and to the individual segment’s results.

Note 16 - Retirement Plans

Note 16 - Retirement Plans	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	16. Retirement Plans : The Company’s retirement plans consist of two 401(k) two 401(k) The 401(k) 401(k) 401(k) one half first 6% For the union flat rolled segments’ 401(k) one half first 6% For the 401(k) one first 6% All union employees now participate in the profit-sharing plan on a discretionary basis, like all non-union employees. Company contributions to the non-union profit-sharing plan are discretionary amounts as determined annually by the Board of Directors. In 2005, 13%; five The Company, through its CTI subsidiary, contributes to one 597, 36 6511016, 001 1) one may 2) may 3) may The most recent Pension Protection Act zone status available is for the plan year beginning January 1, 2016, 80 CTI contributes to the Multiemployer Plan under the terms of a collective bargaining agreement that covers certain of its union employees, and which expires May 31, 2020. December 31, 2016 2015. Retirement plan expense, which includes all Company 401(k), $2.2 $2.0 $2.2 December 31, 2016, 2015 2014, The fair values of the Company’s SERP assets as of December 31, 2016 Quoted Prices Observable Unobservable in Active Markets Inputs Inputs (in thousands) Level 1 Level 2 Level 3 Money market funds - 2,403 - Fixed income 120 Mutual funds - 3,297 - Total $ - $ 5,820 $ -

Note 17 - Related-party Transac

Note 17 - Related-party Transaction	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	17. Related-Party Transactions : The Company’s Chief Executive Officer owns 50% one $0.2 December 31, 2018 four five

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	Schedule II – Valuation and Qualifying Accounts (in thousands) Additions Description Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End of Period Year Ended December 31, 2014 Allowance for doubtful accounts $ 1,519 $ 467 $ - $ (638 ) $ 1,348 Tax valuation reserve $ 1,298 $ 83 $ - $ - $ 1,381 Year Ended December 31, 2015 Allowance for doubtful accounts $ 1,348 $ 506 $ - $ (555 ) $ 1,299 Tax valuation reserve $ 1,381 $ - $ - $ (351 ) $ 1,030 Year Ended December 31, 2016 Allowance for doubtful accounts $ 1,299 $ 369 $ - $ (283 ) $ 1,385 Tax valuation reserve $ 1,030 $ 987 $ - $ - $ 2,017

Schedule III - Supplemental Fin

Schedule III - Supplemental Financial Information	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Quarterly Financial Information [Text Block]	SUPPLEMENTAL FINANCIAL INFORMATION (in thousands, except per share data) 2016 1st 2nd 3rd 4th Year Net sales $ 258,349 $ 273,608 $ 268,255 $ 254,904 $ 1,055,116 Operating income (loss) (a) 35 8,339 27 (2,653 ) 5,748 Income (loss) before income taxes (1,255 ) 7,007 (1,288 ) (4,044 ) 420 Net income (loss) $ (767 ) $ 3,550 $ (1,757 ) $ (2,104 ) $ (1,078 ) Basic net income (loss) per share $ (0.07 ) $ 0.32 $ (0.16 ) $ (0.19 ) $ (0.10 ) Weighted average shares outstanding - basic 11,182 11,216 11,219 11,221 11,210 Diluted net income (loss) per share $ (0.07 ) $ 0.32 $ (0.16 ) $ (0.19 ) $ (0.10 ) Weighted average shares outstanding - diluted 11,182 11,216 11,219 11,221 11,210 Market price of common stock: (c) High $ 17.50 $ 27.48 $ 31.19 $ 28.67 $ 31.19 Low 7.98 15.41 17.42 17.14 7.98 2015 1st 2nd 3rd 4th Year Net sales $ 345,865 $ 315,251 $ 276,922 $ 237,505 $ 1,175,543 Operating income (loss) (b) 3,345 (24,398 ) 453 (7,179 ) (27,779 ) Income (loss) before income taxes 1,751 (25,895 ) (1,036 ) (8,414 ) (33,594 ) Net income (loss) $ 1,069 $ (22,260 ) $ (598 ) $ (4,988 ) $ (26,777 ) Basic net income (loss) per share $ 0.10 $ (1.99 ) $ (0.05 ) $ (0.45 ) $ (2.39 ) Weighted average shares outstanding - basic 11,195 11,201 11,203 11,173 11,192 Diluted net income (loss) per share $ 0.10 $ (1.99 ) $ (0.05 ) $ (0.45 ) $ (2.39 ) Weighted average shares outstanding - diluted 11,195 11,201 11,203 11,173 11,192 Market price of common stock: (c) High $ 18.57 $ 20.93 $ 17.92 $ 12.60 $ 20.93 Low 12.86 10.44 6.40 8.98 6.40 (a) Operating income (loss) includes $1,489 (b) Operating income (loss) includes $3,347 $16,451 goodwill impairment charge and a $8,000 second and pipe products segment and a $500 fourth segment. (c) Represents the high and low sales prices of our common stock as reported by the Nasdaq Global Select Market.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Nature of Business, Policy [Policy Text Block]	Nature of Business The Company is a leading U.S. metals service center specializing in the processing and distribution of large volumes of carbon, coated, aluminum and stainless steel, flat-rolled coil, sheet and plate products and tubular and pipe products from facilities throughout the United States. The Company operates in three
Consolidation, Policy [Policy Text Block]	Principles of Consolidation and Basis of presentation The accompanying consolidated financial statements include the accounts of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, the Company or Olympic), after elimination of intercompany accounts and transactions.
Reclassification, Policy [Policy Text Block]	Reclassifications and revisions Certain prior year amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year's presentation.
Use of Estimates, Policy [Policy Text Block]	Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Risks The Company is a major customer of flat-rolled coil and plate and tubular and pipe steel for many of its principal suppliers, but is not dependent on any one 54%, 51% 43% three 2016, 2015 2014, The Company has a diversified customer and geographic base, which reduces the inherent risk and cyclicality of its business. The concentration of net sales to the Company’s top 20 29%, 31% 29% 2016, 2015 2014, 4%, 6% 6% 2016, 2015 2014, 51%, 49% 51% 2016, 2015 2014,
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash equivalents consist of short-term highly liquid investments, with a three
Fair Value Measurement, Policy [Policy Text Block]	Fair Market Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the liability in an orderly transaction between market participants on the measurement date. 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 first two Level 1 Level 2 1 Level 3 Financial instruments, such as cash and cash equivalents, accounts receivable, accounts payable and the credit facility revolver, are stated at their carrying value, which is a reasonable estimate of fair value. The fair value of marketable securities is based on quoted market prices.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Accounts Receivable The Company’s allowance for doubtful accounts is maintained at a level considered appropriate based on historical experience and specific customer collection issues that the Company has 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.
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost or market and include the costs of purchased metals, inbound freight, external processing and applicable labor and overhead costs. Costs of our carbon and specialty metals flat products segments’ inventories, including flat-rolled sheet, coil and plate products are determined using the specific identification method. Certain of the Company’s tubular and pipe products inventory is stated under the last-in, first December 31, 2016 December 31, 2015, $43.4 17.1% $42.7 20.7% first first On the Consolidated Statements of Comprehensive Income, “Cost of materials sold (exclusive of items shown separately below)” consists of the cost of purchased metals, inbound and internal transfer freight, external processing costs, and LIFO income or expense.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, and Depreciation Property and equipment are stated at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ranging from two 30 five
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Intangible Assets and Recoverability of Long-lived Assets The Company performs an annual impairment test of indefinite-lived intangible assets for the tubular and pipe products segment in the fourth If a quantitative fair value measurement is used, the fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. The Company estimates the fair value of indefinite-lived intangible assets using a discounted cash flow methodology. Management’s assumptions used for the calculations are based on historical results, projected financial information and recent economic events. Actual results could differ from these estimates under different assumptions or conditions which could adversely affect the reported value of intangible assets. The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives whenever events or changes in circumstances indicate that the carrying value may may
Income Tax, Policy [Policy Text Block]	Income Taxes The Company, on its consolidated balance sheets, records as an offset to the estimated effect of temporary differences between the tax basis of assets and liabilities and the reported amounts in its consolidated balance sheets, the tax effect of operating loss and tax credit carryforwards. If the Company determines that it will not be able to fully realize a deferred tax asset, it will record a valuation allowance to reduce such deferred tax asset to its realizable value. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. Penalties, if incurred, would be recognized as a component of administrative and general expense.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition For both direct and toll shipments, revenue is recognized when title and risk of loss is transferred, which generally occurs upon delivery to our customers. Given the proximity of the Company’s customers to its facilities, substantially all of the Company’s sales are shipped and received within one Certain engineered products produced by the tubular and pipe products segment typically take several months to produce due to their size and complexity. Substantially all projects are completed within nine may 1.7%, 1.8% 1.7% 2016, 2015 2014,
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Fees and Costs Amounts charged to customers for shipping and other transportation services are included in net sales. The distribution expense line on the accompanying Consolidated Statements of Comprehensive Income is entirely comprised of all shipping and other transportation costs incurred by the Company in shipping goods to its customers.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The Company records compensation expense for stock awards issued to employees and directors. For additional information, see Note 10,
New Accounting Pronouncements, Policy [Policy Text Block]	Impact of Recently Issued Accounting Pronouncements In August 2016, 2016 15, eight zero December 15, 2017, In March 2016, 2016 09, December 15, 2016 In February 2016, 2016 02, December 15, 2018 In November 2015, 2015 17, one one December 15, 2016, may January 1, 2016 In April 2015, 2015 03, December 15, 2015, 2015 03 January 1, 2016 In August 2014, 2014 15, one December 15, 2016, In May 2014, 2014 09, December 15, 2016, August 2015, 2015 14, 2014 09 one

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	As of December 31, (in thousands) 2016 2015 Unprocessed $ 203,256 $ 163,942 Processed and finished 51,270 42,703 Totals $ 254,526 $ 206,645

Note 4 - Property and Equipme30

Note 4 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Property, Plant and Equipment [Table Text Block]	(in thousands) Depreciable Lives December 31, 2016 December 31, 2015 Land - $ 16,001 $ 16,001 Land improvements 5 - 10 3,133 2,799 Buildings and improvements 7 - 30 133,010 131,294 Machinery and equipment 2 - 15 185,676 185,555 Furniture and fixtures 3 - 7 6,311 6,582 Computer software and equipment 2 - 5 27,848 27,350 Vehicles 2 - 5 1,456 1,274 Construction in progress - 807 1,274 374,242 372,129 Less accumulated depreciation (218,476 ) (205,591 ) Net property and equipment $ 155,766 $ 166,538

Note 5 - Goodwill and Intangi31

Note 5 - Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Goodwill [Table Text Block]	(in thousands) Specialty Metals Flat Products Tubular and Pipe Products Total Balance as of December 31, 2014 $ 500 $ 16,451 $ 16,951 Acquisitions - - - Impairments (500 ) (16,451 ) (16,951 ) Balance as of December 31, 2015 $ - $ - $ - Acquisitions - - - Impairments - - - Balance as of December 31, 2016 $ - $ - $ -
Schedule of Finite and Indefinite Lived Intangible Assets [Table Text Block]	As of December 31, 2016 (in thousands) Gross Carrying Amount Accumulated Amortization Impairments Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ (4,888 ) $ - $ 8,444 Trade name - not subject to amortization 15,425 - - 15,425 $ 28,757 $ (4,888 ) $ - $ 23,869 As of December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Impairments Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ (4,000 ) $ - $ 9,332 Trade name - not subject to amortization 23,425 - (8,000 ) 15,425 $ 36,757 $ (4,000 ) $ (8,000 ) $ 24,757

Note 6 - Debt (Tables)

Note 6 - Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Debt [Table Text Block]	As of December 31, December 31, (in thousands) 2016 2015 Asset-based revolving credit facility due June 30, 2019 $ 164,599 $ 145,800 Industrial revenue bond due April 1, 2018 1,825 2,690 Total debt 166,424 148,490 Less current amount (1,825 ) (2,690 ) Total long-term debt $ 164,599 $ 145,800
Schedule of Maturities of Long-term Debt [Table Text Block]	(in thousands) 2017 2018 2019 Total ABL Credit Facility $ - $ - $ 164,599 $ 164,599 Industrial revenue bond 895 930 - 1,825 Total principal payments $ 895 $ 930 $ 164,599 $ 166,424

Note 7 - Derivative Instrumen33

Note 7 - Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Net Gain (Loss) Recognized (in thousands) 2016 2015 2014 Interest rate swap (CTI) $ (66 ) $ (77 ) $ (100 ) Fixed interest rate swap (ABL) (98 ) (365 ) (472 ) Cash flow metals hedges - (2,400 ) (312 ) Metals swaps 68 (2,304 ) 934 Embedded customer derivatives (68 ) 2,304 (934 ) Total loss $ (164 ) $ (2,842 ) $ (884 )

Note 8 - Fair Value of Assets34

Note 8 - Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Value of Items Recorded at Fair Value As of December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Assets: Embedded customer derivatives $ - $ 113 $ - $ 113 Total assets at fair value $ - $ 113 $ - $ 113 Liabilities: Metals swaps $ - $ 113 $ - $ 113 Interest rate swap (CTI) - 36 - 36 Total liabilities recorded at fair value $ - $ 149 $ - $ 149 Value of Items Recorded at Fair Value As of December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Assets: Embedded customer derivatives $ - $ 384 $ - $ 384 Total assets at fair value $ - $ 384 $ - $ 384 Liabilities: Metals swaps $ - $ 384 $ - $ 384 Interest rate swap (CTI) - 102 - 102 Fixed interest rate swap (ABL) - 114 - 114 Total liabilities recorded at fair value $ - $ 600 $ - $ 600
Fair Value, by Balance Sheet Grouping [Table Text Block]	Value of Items Not Recorded at Fair Value As of December 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: IRB $ 1,825 $ - $ - $ 1,825 ABL Credit Facility - 164,599 - 164,599 Total liabilities not recorded at fair value $ 1,825 $ 164,599 $ - $ 166,424 Value of Items Not Recorded at Fair Value As of December 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: IRB $ 2,690 $ - $ - $ 2,690 ABL Credit Facility - 145,800 - 145,800 Total liabilities not recorded at fair value $ 2,690 $ 145,800 $ - $ 148,490

Note 10 - Equity Plans (Tables)

Note 10 - Equity Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	For the years ended December 31, (in thousands) 2016 2015 2014 RSU expense before taxes of New Plan $ 42 $ - $ - RSU (income) expense before taxes of Old Plan $ (73 ) $ 1,047 $ 1,252 RSU (income) expense after taxes 81 631 774
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	Number of Shares Weighted Average Estimated Fair Value Outstanding at December 31, 2015 287,894 $ 22.39 Granted 137,935 15.19 Converted into shares (3,239 ) 19.12 Forfeited (1,104 ) 18.03 Outstanding at December 31, 2016 421,486 $ 19.92 Vested at December 31, 2016 411,794 $ 19.89

Note 11 - Commitments and Con36

Note 11 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	(in thousands) 2017 2018 2019 2020 2021 Thereafter Total Lease payments $ 6,634 $ 5,804 $ 4,511 $ 3,661 $ 2,574 $ 3,282 $ 26,466

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	As of December 31, (in thousands) 2016 2015 2014 Current: Federal $ 2,563 $ (149 ) $ 4,859 State and local 929 (752 ) 657 3,492 (901 ) 5,516 Deferred (1,994 ) (5,916 ) (2,566 ) Income tax provision (benefit) $ 1,498 $ (6,817 ) $ 2,950
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	(in thousands) 2016 2015 Deferred tax assets: Inventory (excluding LIFO reserve) $ 2,531 $ 2,986 Net operating loss and tax credit carryforwards 3,224 2,926 Allowance for doubtful accounts 533 500 Accrued expenses 7,228 7,311 Other 169 143 13,685 13,866 Valuation reserve (2,017 ) (1,030 ) Total deferred tax assets 11,668 12,836 Deferred tax liabilities: LIFO reserve (5,874 ) (6,018 ) Property and equipment (19,846 ) (22,535 ) Intangibles (9,067 ) (9,396 ) Total deferred tax liabilities (34,787 ) (37,949 ) Deferred tax liabilities, net $ (23,119 ) $ (25,113 )
Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block]	(in thousands) 2016 2015 2014 Balance as of January 1 $ 38 $ 58 $ 75 Decreases related to prior year tax positions - (20 ) (17 ) Increases related to current year tax positions 13 13 13 Decreases related to lapsing of statute of limitations (13 ) (13 ) (13 ) Balance as of December 31 $ 38 $ 38 $ 58
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2016 2015 2014 U.S. federal statutory rate 35.0% 35.0% 35.0% State and local taxes, net of federal benefit 11.8% 1.4% (1.6% ) Valuation allowance 205.4% 0.0% 0.0% Goodwill impairment 0.0% (17.1% ) (51.8% ) All other, net 104.4% 1.0% 0.1% Effective income tax rate 356.6% 20.3% (18.3% )

Note 13 - Shares Outstanding 38

Note 13 - Shares Outstanding and Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the years ended December 31, (in thousands, except per share data) 2016 2015 2014 Weighted average basic shares outstanding 11,210 11,192 11,120 Assumed exercise of stock options and issuance of stock awards - - - Weighted average diluted shares outstanding 11,210 11,192 11,120 Net income (loss) $ (1,078 ) $ (26,777 ) $ (19,064 ) Basic earnings (loss) per share $ (0.10 ) $ (2.39 ) $ (1.71 ) Diluted earnings (loss) per share $ (0.10 ) $ (2.39 ) $ (1.71 ) Anti-dilutive securities outstanding 167 125 118

Note 15 - Segment Information (

Note 15 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Year Ended December 31, (in thousands) 2016 2015 2014 Net sales Carbon flat products $ 670,983 $ 765,400 $ 985,039 Specialty metals flat products 189,930 192,516 206,692 Tubular and pipe products 194,203 217,627 244,539 Total net sales $ 1,055,116 $ 1,175,543 $ 1,436,270 Depreciation and amortization Carbon flat products $ 11,690 $ 12,200 $ 14,250 Specialty metals flat products 797 698 805 Tubular and pipe products 5,896 6,036 5,624 Corporate 102 102 101 Total depreciation and amortization $ 18,485 $ 19,036 $ 20,780 Operating income Carbon flat products $ (4,371 ) $ (7,217 ) $ 6,306 Specialty metals flat products 9,841 (1,074 ) 6,109 Tubular and pipe products 7,713 12,583 10,185 Corporate (7,435 ) (7,120 ) (7,972 ) Goodwill and intangible asset impairment (a) - (24,951 ) (23,836 ) Total operating income (loss) $ 5,748 $ (27,779 ) $ (9,208 ) Other loss, net (55 ) (125 ) (126 ) Income (loss) before interest and income taxes 5,693 (27,904 ) (9,334 ) Interest and other expense on debt 5,273 5,690 6,780 Income (loss) before income taxes $ 420 $ (33,594 ) $ (16,114 )
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	(in thousands) 2016 2015 2014 Capital expenditures Flat products $ 5,105 $ 4,295 $ 4,540 Tubular and pipe products 1,719 3,022 3,273 Corporate - - 21 Total capital expenditures $ 6,824 $ 7,317 $ 7,834 Assets Flat products $ 363,626 $ 328,295 Tubular and pipe products 192,088 183,129 Corporate 354 456 Total assets $ 556,068 $ 511,880

Note 16 - Retirement Plans (Tab

Note 16 - Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Allocation of Plan Assets [Table Text Block]	Quoted Prices Observable Unobservable in Active Markets Inputs Inputs (in thousands) Level 1 Level 2 Level 3 Money market funds - 2,403 - Fixed income 120 Mutual funds - 3,297 - Total $ - $ 5,820 $ -

Schedule II - Valuation and Q41

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Additions Description Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End of Period Year Ended December 31, 2014 Allowance for doubtful accounts $ 1,519 $ 467 $ - $ (638 ) $ 1,348 Tax valuation reserve $ 1,298 $ 83 $ - $ - $ 1,381 Year Ended December 31, 2015 Allowance for doubtful accounts $ 1,348 $ 506 $ - $ (555 ) $ 1,299 Tax valuation reserve $ 1,381 $ - $ - $ (351 ) $ 1,030 Year Ended December 31, 2016 Allowance for doubtful accounts $ 1,299 $ 369 $ - $ (283 ) $ 1,385 Tax valuation reserve $ 1,030 $ 987 $ - $ - $ 2,017

Schedule III - Supplemental F42

Schedule III - Supplemental Financial Information (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Quarterly Financial Information [Table Text Block]	2016 1st 2nd 3rd 4th Year Net sales $ 258,349 $ 273,608 $ 268,255 $ 254,904 $ 1,055,116 Operating income (loss) (a) 35 8,339 27 (2,653 ) 5,748 Income (loss) before income taxes (1,255 ) 7,007 (1,288 ) (4,044 ) 420 Net income (loss) $ (767 ) $ 3,550 $ (1,757 ) $ (2,104 ) $ (1,078 ) Basic net income (loss) per share $ (0.07 ) $ 0.32 $ (0.16 ) $ (0.19 ) $ (0.10 ) Weighted average shares outstanding - basic 11,182 11,216 11,219 11,221 11,210 Diluted net income (loss) per share $ (0.07 ) $ 0.32 $ (0.16 ) $ (0.19 ) $ (0.10 ) Weighted average shares outstanding - diluted 11,182 11,216 11,219 11,221 11,210 Market price of common stock: (c) High $ 17.50 $ 27.48 $ 31.19 $ 28.67 $ 31.19 Low 7.98 15.41 17.42 17.14 7.98 2015 1st 2nd 3rd 4th Year Net sales $ 345,865 $ 315,251 $ 276,922 $ 237,505 $ 1,175,543 Operating income (loss) (b) 3,345 (24,398 ) 453 (7,179 ) (27,779 ) Income (loss) before income taxes 1,751 (25,895 ) (1,036 ) (8,414 ) (33,594 ) Net income (loss) $ 1,069 $ (22,260 ) $ (598 ) $ (4,988 ) $ (26,777 ) Basic net income (loss) per share $ 0.10 $ (1.99 ) $ (0.05 ) $ (0.45 ) $ (2.39 ) Weighted average shares outstanding - basic 11,195 11,201 11,203 11,173 11,192 Diluted net income (loss) per share $ 0.10 $ (1.99 ) $ (0.05 ) $ (0.45 ) $ (2.39 ) Weighted average shares outstanding - diluted 11,195 11,201 11,203 11,173 11,192 Market price of common stock: (c) High $ 18.57 $ 20.93 $ 17.92 $ 12.60 $ 20.93 Low 12.86 10.44 6.40 8.98 6.40

Note 1 - Summary of Significa43

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Reportable Segments	3
LIFO Inventory Amount	$ 43.4	$ 42.7
Percentage of LIFO Inventory	17.10%	20.70%
Minimum [Member]
Property, Plant and Equipment, Useful Life	2 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	30 years
Steel Requirements [Member] | Supplier Concentration Risk [Member] | Three Largest Suppliers [Member]
Concentration Risk, Percentage	54.00%	51.00%	43.00%
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Top 20 [Member]
Concentration Risk, Percentage	29.00%	31.00%	29.00%
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Largest Customer [Member]
Concentration Risk, Percentage	4.00%	6.00%	6.00%
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Industrial Machinery and Equipment Manufacturers and Fabricators [Member]
Concentration Risk, Percentage	51.00%	49.00%	51.00%
Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member] | Engineered Products [Member]
Concentration Risk, Percentage	1.70%	1.80%	1.70%

Note 2 - Accounts Receivable (D

Note 2 - Accounts Receivable (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts Receivable, Current	$ 2.4	$ 3.1
Provision for Doubtful Accounts	$ 0.4	$ 0.5	$ 0.5

Note 3 - Inventories (Details T

Note 3 - Inventories (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Inventory, LIFO Reserve, Period Charge	$ 1.5	$ 3.3
Inventory Difference Using FIFO Basis	$ 8	$ 6.6

Note 3 - Inventories - Steel In

Note 3 - Inventories - Steel Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Unprocessed	$ 203,256	$ 163,942
Processed and finished	51,270	42,703
Totals	$ 254,526	$ 206,645

Note 4 - Property and Equipme47

Note 4 - Property and Equipment (Details Textual)	12 Months Ended
	Dec. 31, 2016
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	7 years

Note 4 - Property and Equipme48

Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property and equipment, at cost	$ 374,242	$ 372,129
Accumulated depreciation	(218,476)	(205,591)
Net property and equipment	$ 155,766	166,538
Minimum [Member]
Depreciable lives (Year)	2 years
Maximum [Member]
Depreciable lives (Year)	30 years
Land [Member]
Property and equipment, at cost	$ 16,001	16,001
Land Improvements [Member]
Property and equipment, at cost	$ 3,133	2,799
Land Improvements [Member] | Minimum [Member]
Depreciable lives (Year)	5 years
Land Improvements [Member] | Maximum [Member]
Depreciable lives (Year)	10 years
Building and Building Improvements [Member]
Property and equipment, at cost	$ 133,010	131,294
Building and Building Improvements [Member] | Minimum [Member]
Depreciable lives (Year)	7 years
Building and Building Improvements [Member] | Maximum [Member]
Depreciable lives (Year)	30 years
Machinery and Equipment [Member]
Property and equipment, at cost	$ 185,676	185,555
Machinery and Equipment [Member] | Minimum [Member]
Depreciable lives (Year)	2 years
Machinery and Equipment [Member] | Maximum [Member]
Depreciable lives (Year)	15 years
Furniture and Fixtures [Member]
Property and equipment, at cost	$ 6,311	6,582
Furniture and Fixtures [Member] | Minimum [Member]
Depreciable lives (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Depreciable lives (Year)	7 years
Software and Software Development Costs [Member]
Property and equipment, at cost	$ 27,848	27,350
Software and Software Development Costs [Member] | Minimum [Member]
Depreciable lives (Year)	2 years
Software and Software Development Costs [Member] | Maximum [Member]
Depreciable lives (Year)	5 years
Vehicles [Member]
Property and equipment, at cost	$ 1,456	1,274
Vehicles [Member] | Minimum [Member]
Depreciable lives (Year)	2 years
Vehicles [Member] | Maximum [Member]
Depreciable lives (Year)	5 years
Construction in Progress [Member]
Property and equipment, at cost	$ 807	$ 1,274

Note 5 - Goodwill and Intangi49

Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		$ 8
Finite-Lived Intangible Asset, Useful Life	15 years
Finite-Lived Intangible Assets, Remaining Amortization Period	15 years
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 0.9
Finite-Lived Intangible Assets, Amortization Expense, Year Five	0.9
Finite-Lived Intangible Assets, Amortization Expense, Year Two	0.9
Finite-Lived Intangible Assets, Amortization Expense, Year Three	0.9
Finite-Lived Intangible Assets, Amortization Expense, Year Four	$ 0.9

Note 5 - Goodwill and Intangi50

Note 5 - Goodwill and Intangible Assets - Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Beginning Balance		$ 0	$ 16,951
Acquisitions
Impairments			(16,951)
Ending Balance	$ 0	0	0
Specialty Metal Flat Products [Member]
Beginning Balance		0	500
Acquisitions
Impairments	(500)		(500)
Ending Balance	0	0	0
Tubular And Pipe Products [Member]
Beginning Balance		0	16,451
Acquisitions
Impairments			(16,451)
Ending Balance	$ 0	$ 0	$ 0

Note 5 - Goodwill and Intangi51

Note 5 - Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
Gross carrying amount	$ 36,757	$ 28,757
Accumulated amortization	(4,000)	(4,888)
Intangible assets, net	24,757	23,869
Impairments	(8,000)
Trade Names [Member]
Gross carrying amount	23,425	15,425
Intangible assets, net	15,425	15,425
Impairments	(8,000)
Customer Relationships [Member]
Gross carrying amount	13,332	13,332
Accumulated amortization	(4,000)	(4,888)
Intangible assets, net	$ 9,332	$ 8,444

Note 6 - Debt (Details Textual)

Note 6 - Debt (Details Textual) - USD ($) $ in Thousands	Apr. 02, 2016	Jul. 31, 2011	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2012
Prepaid Expense and Other Assets, Current			$ 6,197	$ 7,820
Debt Instrument, Interest Rate, Effective Percentage			2.40%	2.10%	2.40%
Derivative, Fixed Interest Rate						1.21%
Interest Paid			$ 4,300	$ 5,083	$ 5,793
Long-term Debt, Gross			$ 152,500	$ 211,200	$ 234,700
Industrial Revenue Bonds [Member]
Effectof Swap Interest Rate Agreement			3.46%
Industrial Revenue Bonds [Member] | Chicago Tube and Iron Company Acquisition [Member]
Business Combination, Consideration Transferred, Liabilities Incurred		$ 5,900
Debt Instrument, Interest Rate, Effective Percentage			1.00%
Amortized Banking Fees [Member]
Prepaid Expense and Other Assets, Current			$ 2,000
Minimum [Member]
Derivative Premium Rate						1.25%
Maximum [Member]
Derivative Premium Rate						1.75%
A B L Credit Facility [Member]
Line of Credit Facility Covenant Terms EBITDA Ratio			1
Line of Credit Facility, Remaining Borrowing Capacity			$ 94,300
Debt Instrument, Periodic Payment, Principal	$ 900
A B L Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan Member [Member]
Long-term Line of Credit						$ 53,200
Asset Based Revolving Credit Facility Due June 30, 2019 [Member] | A B L Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			365,000
Line of Credit Facility, Current Borrowing Capacity			$ 365,000
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments			10.00%
Balance Required for Compliance with Revolver Commitments			$ 36,500
Asset Based Revolving Credit Facility Due June 30, 2019 [Member] | A B L Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			0.00%
Asset Based Revolving Credit Facility Due June 30, 2019 [Member] | A B L Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Asset Based Revolving Credit Facility Due June 30, 2019 [Member] | A B L Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			0.25%
Asset Based Revolving Credit Facility Due June 30, 2019 [Member] | A B L Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			3.00%
Asset Based Revolving Credit Facility Due June 30, 2019 [Member] | A B L Credit Facility [Member] | Availability Dollar Amount [Member]
Line Of Credit Facility Covenant Terms Monetary			$ 30,000

Note 6 - Debt - Debt (Details)

Note 6 - Debt - Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ABL Credit Facility	$ 164,599	$ 145,800
Total debt	166,424	148,490
Less current amount	(1,825)	(2,690)
Total long-term debt	164,599	145,800
Industrial Revenue Bond Member [Member]
IRB	1,825	2,690
Asset Based Revolving Credit Facility Due June 30, 2019 [Member]
ABL Credit Facility	$ 164,599	$ 145,800

Note 6 - Debt - Principal Payme

Note 6 - Debt - Principal Payments Over the Next 5 Years and Thereafter (Details) $ in Thousands	Dec. 31, 2016USD ($)
2,017	$ 895
2,018	930
2,019	164,599
Total	166,424
Revolver Member [Member]
2,017
2,018
2,019	164,599
Total	164,599
Industrial Revenue Bonds [Member]
2,017	895
2,018	930
2,019
Total	$ 1,825

Note 7 - Derivative Instrumen55

Note 7 - Derivative Instruments (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015USD ($)	Jun. 30, 2012USD ($)
Derivative, Fixed Interest Rate			1.21%
Cash Flow Hedging [Member]
Derivative, Fixed Interest Rate			1.21%
A B L Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan Member [Member]
Long-term Line of Credit			$ 53.2
Minimum [Member]
Derivative Premium Rate			1.25%
Minimum [Member] | Cash Flow Hedging [Member]
Derivative Premium Rate			1.25%
Maximum [Member]
Derivative Premium Rate			1.75%
Maximum [Member] | Cash Flow Hedging [Member]
Derivative Premium Rate			1.75%
Nickel Swaps [Member] | Minimum [Member]
Derivative, Remaining Maturity	30 days
Nickel Swaps [Member] | Maximum [Member]
Derivative, Remaining Maturity	150 days
Cash Flow Metals Hedges [Member]
Derivative, Number of Instruments Held	0	0
Cash Flow Metals Hedges [Member] | Cost of Materials Sold [Member]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		$ 2.4

Note 7 - Derivative Instrumen56

Note 7 - Derivative Instruments - Impact From Derivatives on Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivatives	$ (164)	$ (2,842)	$ (884)
Interest Rate Swap [Member] | A B L Credit Facility [Member]
Derivatives	(98)	(365)	(472)
Interest Rate Swap [Member] | Chicago Tube and Iron Company Acquisition [Member]
Derivatives	(66)	(77)	(100)
Cash Flow Metals Hedges [Member]
Derivatives		(2,400)	(312)
Metals Swap [Member]
Derivatives	68	(2,304)	934
Embedded Customer Derivatives [Member]
Derivatives	$ (68)	$ 2,304	$ (934)

Note 8 - Fair Value of Assets57

Note 8 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Revolving Credit Facility [Member]
Long-term Debt, Fair Value	$ 164.6	$ 145.8
Industrial Revenue Bonds [Member]
Long-term Debt, Fair Value	$ 1.8	$ 2.7

Note 8 - Fair Value of Financia

Note 8 - Fair Value of Financial Instruments - Fair Value Measurements, Recorded (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets:
Embedded customer derivatives	$ 113	$ 384
Total assets at fair value	113	384
Liabilities:
Total liabilities recorded at fair value	149	600
Metals Swap [Member]
Liabilities:
Derivative asset	113
Derivative liability		384
Interest Rate Swap [Member]
Liabilities:
Derivative liability	36	102
Fixed Interest Rate Swap [Member]
Liabilities:
Derivative liability		114
Fair Value, Inputs, Level 1 [Member]
Assets:
Embedded customer derivatives
Total assets at fair value
Liabilities:
Total liabilities recorded at fair value
Fair Value, Inputs, Level 1 [Member] | Metals Swap [Member]
Liabilities:
Derivative asset
Derivative liability
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Liabilities:
Derivative liability
Fair Value, Inputs, Level 1 [Member] | Fixed Interest Rate Swap [Member]
Liabilities:
Derivative liability
Fair Value, Inputs, Level 2 [Member]
Assets:
Embedded customer derivatives	113	384
Total assets at fair value	113	384
Liabilities:
Total liabilities recorded at fair value	149	600
Fair Value, Inputs, Level 2 [Member] | Metals Swap [Member]
Liabilities:
Derivative asset	113
Derivative liability		384
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Liabilities:
Derivative liability	36	102
Fair Value, Inputs, Level 2 [Member] | Fixed Interest Rate Swap [Member]
Liabilities:
Derivative liability		114
Fair Value, Inputs, Level 3 [Member]
Assets:
Embedded customer derivatives
Total assets at fair value
Liabilities:
Total liabilities recorded at fair value
Fair Value, Inputs, Level 3 [Member] | Metals Swap [Member]
Liabilities:
Derivative asset
Derivative liability
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Liabilities:
Derivative liability
Fair Value, Inputs, Level 3 [Member] | Fixed Interest Rate Swap [Member]
Liabilities:
Derivative liability

Note 8 - Fair Value of Financ59

Note 8 - Fair Value of Financial Instruments - Fair Value Measurements, Not Recorded (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Liabilities
ABL Credit Facility	$ 164,599	$ 145,800
Total liabilities not recorded at fair value	166,424
Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	166,424	148,490
A B L Credit Facility [Member]
Liabilities
ABL Credit Facility	164,599	145,800
Fair Value, Inputs, Level 1 [Member] | Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	1,825	2,690
Fair Value, Inputs, Level 1 [Member] | A B L Credit Facility [Member]
Liabilities
ABL Credit Facility
Fair Value, Inputs, Level 2 [Member] | Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	164,599	145,800
Fair Value, Inputs, Level 2 [Member] | A B L Credit Facility [Member]
Liabilities
ABL Credit Facility	164,599	145,800
Fair Value, Inputs, Level 3 [Member] | Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value
Fair Value, Inputs, Level 3 [Member] | A B L Credit Facility [Member]
Liabilities
ABL Credit Facility
Industrial Revenue Bonds [Member]
Liabilities
IRB	1,825	2,690
Industrial Revenue Bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities
IRB	1,825	2,690
Industrial Revenue Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities
IRB
Industrial Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities
IRB

Note 9 - Accumulated Other Co60

Note 9 - Accumulated Other Comprehensive Loss (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2012	Dec. 31, 2015
Term Loan Member [Member] | London Interbank Offered Rate (LIBOR) [Member] | A B L Credit Facility [Member]
Long-term Line of Credit	$ 53.2
Interest Rate Swap [Member]
Long-term Line of Credit		$ 31.4
Fixed Rate Interest Hedge Notional Monthly Decrease	$ 0.7

Note 10 - Equity Plans (Details

Note 10 - Equity Plans (Details Textual) - USD ($)	Jul. 01, 2016	May 01, 2016	Mar. 01, 2015	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Senior Management Compensation Program [Member]
ShareBased Compensation Arrangement by ShareBased Payment Award Minimum Number of Shares Per Employee					750
Sharebased Compensation Arrangement bySharebasedPaymentAwardMatchingPurchaseRequirement					500
Sharebased Compensation Arrangement by Sharebased Payment Award Award Match					250
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					137,935
Share-based Compensation Arrangement By Share-based Payment Award Equity Instruments Other Than Options Converted into Shares Intrinsic Value					$ 0	$ 0	$ 0
Restricted Stock Units (RSUs) [Member] | Supplemental Employee Retirement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					51,075	47,639	21,506
Restricted Stock Units (RSUs) [Member] | Senior Management Stock Incentive Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Participant's Base Salary	10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Amount Per Employee	$ 17,500
Restricted Stock Units (RSUs) [Member] | Senior Management Compensation Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Remaining Liability Reversed					$ 1,000,000
Restricted Stock Units (RSUs) [Member] | Senior Management Compensation Program [Member] | Five Year Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested					25,000
Restricted Stock Units (RSUs) [Member] | Senior Management Compensation Program [Member] | Ten Year Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested					50,000
Restricted Stock Units (RSUs) [Member] | Senior Management Compensation Program [Member] | Fifteen Year Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested					75,000
Restricted Stock Units (RSUs) [Member] | Senior Management Compensation Program [Member] | Twenty Five Year Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested					100,000
Restricted Stock Units (RSUs) [Member] | Senior Management Compensation Program [Member] | Twenty Year Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested					$ 100,000
Restricted Stock Units (RSUs) [Member] | Non-Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		3,094	4,639
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					1 year
Restricted Stock Units (RSUs) [Member] | Executive Vice President and Chief Operating Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				10,573
Match [Member] | Senior Management Compensation Program [Member]
Shares Matched					2,500	9,000
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					1,000,000
Share Price		$ 22.62	$ 15.09

Note 10 - Equity Plans - Stock-

Note 10 - Equity Plans - Stock-based Compensation Expense Recognized on Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
RSU (income) expense after taxes	$ 81	$ 631	$ 774
New Plan [Member]
RSU expense before taxes of New Plan	42
Old Plan [Member]
RSU expense before taxes of New Plan	$ (73)	$ 1,047	$ 1,252

Note 10 - Equity Plans - Restri

Note 10 - Equity Plans - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Outstanding beginning balance (in shares) | shares	287,894
Outstanding beginning balance (in dollars per share) | $ / shares	$ 22.39
Granted (in shares) | shares	137,935
Granted (in dollars per share) | $ / shares	$ 15.19
Converted into shares (in shares) | shares	(3,239)
Converted into shares (in dollars per share) | $ / shares	$ 19.12
Forfeited (in shares) | shares	(1,104)
Forfeited (in dollars per share) | $ / shares	$ 18.03
Outstanding ending balance (in shares) | shares	421,486
Outstanding ending balance (in dollars per share) | $ / shares	$ 19.92
Vested (in shares) | shares	411,794
Vested (in dollars per share) | $ / shares	$ 19.89

Note 11 - Commitments and Con64

Note 11 - Commitments and Contingencies (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Operating Leases, Rent Expense	$ 9.1	$ 8.7	$ 8.2
Entity Number of Employees	280
Collective Bargaining Arrangements	9
Cost of Materials Sold [Member]
Litigation Settlement, Expense	$ 1.7

Note 11 - Commitments and Con65

Note 11 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2016USD ($)
2,017	$ 6,634
2,018	5,804
2,019	4,511
2,020	3,661
2,021	2,574
Thereafter	3,282
Total	$ 26,466

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Reconciliation, Permanent Differences Amount	$ 0.8
Income Tax Reconciliation, Tax Credits and Qualified Production Activities, Amount	0.3
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	0.9
Income Taxes Paid, Net	$ 1	$ 0.6	$ 4.7
Minimum [Member]
Tax Credit Carryforward Expiration	7 years
Maximum [Member]
Tax Credit Carryforward Expiration	20 years

Note 12 - Income Taxes - Provis

Note 12 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 2,563	$ (149)	$ 4,859
State and local	929	(752)	657
	3,492	(901)	5,516
Deferred	(1,994)	(5,916)	(2,566)
Income tax provision (benefit)	$ 1,498	$ (6,817)	$ 2,950

Note 12 - Income Taxes - Deferr

Note 12 - Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Inventory (excluding LIFO reserve)	$ 2,531	$ 2,986
Net operating loss and tax credit carryforwards	3,224	2,926
Allowance for doubtful accounts	533	500
Accrued expenses	7,228	7,311
Other	169	143
	13,685	13,866
Valuation reserve	(2,017)	(1,030)
Total deferred tax assets	11,668	12,836
Deferred tax liabilities:
LIFO reserve	(5,874)	(6,018)
Property and equipment	(19,846)	(22,535)
Intangibles	(9,067)	(9,396)
Total deferred tax liabilities	(34,787)	(37,949)
Deferred tax liabilities, net	$ (23,119)	$ (25,113)

Note 12 - Income Taxes - Unreco

Note 12 - Income Taxes - Unrecognized Tax Benefits Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance as of January 1	$ 38	$ 58	$ 75
Decreases related to prior year tax positions		(20)	(17)
Increases related to current year tax positions	13	13	13
Decreases related to lapsing of statute of limitations	(13)	(13)	(13)
Balance as of December 31	$ 38	$ 38	$ 58

Note 12 - Income Taxes - Tax Ra

Note 12 - Income Taxes - Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
U.S. federal statutory rate	35.00%	35.00%	35.00%
State and local taxes, net of federal benefit	11.80%	1.40%	(1.60%)
Valuation allowance	205.40%	0.00%	0.00%
Goodwill impairment	0.00%	(17.10%)	(51.80%)
All other, net	104.40%	1.00%	0.10%
Effective income tax rate	356.60%	20.30%	(18.30%)

Note 13 - Shares Outstanding 71

Note 13 - Shares Outstanding and Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Weighted average shares outstanding - basic (in shares)	11,221	11,219	11,216	11,182	11,173	11,203	11,201	11,195	11,210	11,192	11,120
Assumed exercise of stock options and issuance of stock awards (in shares)
Weighted average diluted shares outstanding (in shares)	11,221	11,219	11,216	11,182	11,173	11,203	11,201	11,195	11,210	11,192	11,120
Net income (loss)	$ (2,104)	$ (1,757)	$ 3,550	$ (767)	$ (4,988)	$ (598)	$ (22,260)	$ 1,069	$ (1,078)	$ (26,777)	$ (19,064)
Basic net income (loss) per share (in dollars per share)	$ (0.19)	$ (0.16)	$ 0.32	$ (0.07)	$ (0.45)	$ (0.05)	$ (1.99)	$ 0.10	$ (0.10)	$ (2.39)	$ (1.71)
Diluted net income (loss) per share (in dollars per share)	$ (0.19)	$ (0.16)	$ 0.32	$ (0.07)	$ (0.45)	$ (0.05)	$ (1.99)	$ 0.10	$ (0.10)	$ (2.39)	$ (1.71)
Anti-dilutive securities outstanding (in shares)									167	125	118

Note 14 - Stock Repurchase Pr72

Note 14 - Stock Repurchase Program (Details Textual) $ / shares in Units, $ in Millions	Oct. 02, 2015USD ($)shares	Dec. 31, 2015$ / sharesshares	Dec. 31, 2016USD ($)shares
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares	550,000
Treasury Stock, Shares, Acquired | shares		65,283	0
Treasury Stock Acquired, Average Cost Per Share | $ / shares		$ 10.71
A B L Credit Facility [Member]
Unrestricted Common Stock Purchases, Maximum, Value	$ 2.5
A B L Credit Facility [Member] | Stock Repurchases Value Exceeds 2.5 Million, Option 1 [Member] | Minimum [Member]
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments	25.00%
Balance Required for Compliance with Revolver Commitments			$ 91.3
A B L Credit Facility [Member] | Stock Repurchases Value Exceeds 2.5 Million, Option 2 [Member] | Minimum [Member]
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments	15.00%
Balance Required for Compliance with Revolver Commitments			$ 54.8
Line of Credit Facility Covenant Terms EBITDA Ratio	1

Note 15 - Segment Information73

Note 15 - Segment Information (Details Textual) $ in Thousands		3 Months Ended	12 Months Ended
		Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of Reportable Segments			3
Goodwill and Intangible Asset Impairment	[1]			$ 24,951	$ 23,836
Goodwill, Impairment Loss				16,951
Tubular And Pipe Products [Member]
Goodwill and Intangible Asset Impairment				24,451
Goodwill, Impairment Loss				16,451
Specialty Metal Flat Products [Member]
Goodwill, Impairment Loss		$ 500		$ 500
[1]	$24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment. The goodwill impairment in 2014 related to the tubular and pipe products segment.

Note 15 - Segment Information -

Note 15 - Segment Information - Segment Reporting Information by Revenue (Details) - USD ($) $ in Thousands		3 Months Ended																12 Months Ended
		Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Net sales
Net sales																		$ 1,055,116		$ 1,175,543		$ 1,436,270
Depreciation and amortization
Depreciation and Amortization																		18,485		19,036		20,780
Operating income
Operating income (loss) (a)		$ (2,653)	[1]	$ 27	[1]	$ 8,339	[1]	$ 35	[1]	$ (7,179)	[2]	$ 453	[2]	$ (24,398)	[2]	$ 3,345	[2]	5,748	[1]	(27,779)	[2]	(9,208)
Goodwill and intangible asset impairment	[3]																			(24,951)		(23,836)
Other loss, net																		(55)		(125)		(126)
Income (loss) before interest and income taxes																		5,693		(27,904)		(9,334)
Interest and other expense on debt																		5,273		5,690		6,780
Income (loss) before income taxes		$ (4,044)		$ (1,288)		$ 7,007		$ (1,255)		$ (8,414)		$ (1,036)		$ (25,895)		$ 1,751		420		(33,594)		(16,114)
Carbon Flat Products [Member]
Net sales
Net sales																		670,983		765,400		985,039
Depreciation and amortization
Depreciation and Amortization																		11,690		12,200		14,250
Operating income
Operating income (loss) (a)																		(4,371)		(7,217)		6,306
Specialty Metal Flat Products [Member]
Net sales
Net sales																		189,930		192,516		206,692
Depreciation and amortization
Depreciation and Amortization																		797		698		805
Operating income
Operating income (loss) (a)																		9,841		(1,074)		6,109
Tubular And Pipe Products [Member]
Net sales
Net sales																		194,203		217,627		244,539
Depreciation and amortization
Depreciation and Amortization																		5,896		6,036		5,624
Operating income
Operating income (loss) (a)																		7,713		12,583		10,185
Goodwill and intangible asset impairment																				(24,451)
Corporate Segment [Member]
Depreciation and amortization
Depreciation and Amortization																		102		102		101
Operating income
Operating income (loss) (a)																		$ (7,435)		$ (7,120)		$ (7,972)
[1]	Operating income (loss) includes $1,489 of LIFO income related to the Company's tubular and pipe products segment.
[2]	Operating income (loss) includes $3,347 of LIFO income related to the Company's tubular and pipe products segment as well as a $16,451 goodwill impairment charge and a $8,000 intangible asset impairment charge recorded in the second quarter related to the Company's tubular and pipe products segment and a $500 goodwill impairment charge recorded in the fourth quarter related to the specialty metals flat products segment.
[3]	$24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment. The goodwill impairment in 2014 related to the tubular and pipe products segment.

Note 15 - Segment Information75

Note 15 - Segment Information - Segment Reporting Information by Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Capital expenditures
Capital expenditures	$ 6,824	$ 7,317	$ 7,834
Assets
Assets	556,068	511,880
Specialty Metal Flat Products [Member]
Capital expenditures
Capital expenditures	5,105	4,295	4,540
Assets
Assets	363,626	328,295
Tubular And Pipe Products [Member]
Capital expenditures
Capital expenditures	1,719	3,022	3,273
Assets
Assets	192,088	183,129
Corporate Segment [Member]
Capital expenditures
Capital expenditures			21
Assets
Assets	$ 354	$ 456

Note 16 - Retirement Plans (Det

Note 16 - Retirement Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plan, Administrative Expenses	$ 2.2	$ 2	$ 2.2
Multiemployer Plan [Member] | Minimum [Member]
Defined Benefit Plan, Funded Percentage	80.00%
Non-union Flat Rolled Segments’ 401K Retirement Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Union Flat Rolled Segments' 401K Retirement Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
CTI Location 401K Retirement Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Supplemental Executive Retirement Plan (SERP) [Member]
Defined Contribution Plan, Compensation Percentage Multiplier	13.00%
Defined Contribution Plan Vesting Period	5 years

Note 16 - Retirement Plans - Fa

Note 16 - Retirement Plans - Fair Value of Plan Assets (Details) $ in Thousands	Dec. 31, 2016USD ($)
Fair Value, Inputs, Level 1 [Member]
SERP assets
Fair Value, Inputs, Level 2 [Member]
SERP assets	5,820
Fair Value, Inputs, Level 3 [Member]
SERP assets
Money Market Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 1 [Member]
SERP assets
Money Market Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 2 [Member]
SERP assets	2,403
Money Market Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 3 [Member]
SERP assets
Fixed Income Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 1 [Member]
SERP assets
Fixed Income Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 2 [Member]
SERP assets	120
Fixed Income Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 3 [Member]
SERP assets
Equity Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 1 [Member]
SERP assets
Equity Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 2 [Member]
SERP assets	3,297
Equity Funds [Member] | Supplemental Employee Retirement Plan [Member] | Fair Value, Inputs, Level 3 [Member]
SERP assets

Note 17 - Related-party Trans78

Note 17 - Related-party Transaction (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Leases, Rent Expense	$ 9.1	$ 8.7	$ 8.2
Cleveland Warehouse [Member]
Lessee Leasing Arrangements, Operating Leases, Renewal Term	5 years
Chief Executive Officer [Member] | Related Entity that Owns Cleveland Warehouse [Member]
Equity Method Investment, Ownership Percentage	50.00%
Affiliated Entity [Member] | Cleveland Warehouse [Member]
Operating Leases, Rent Expense	$ 0.2

Schedule II - Valuation and Q79

Schedule II - Valuation and Qualifying Accounts - Summary of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts [Member]
Balance at Beginning of Period	$ 1,299	$ 1,348	$ 1,519
Additions Charged to Costs and Expenses	369	506	467
Additions Charged to Other Accounts
Deductions	(283)	(555)	(638)
Balance at End of Period	1,385	1,299	1,348
Valuation Allowance of Deferred Tax Assets [Member]
Balance at Beginning of Period	1,030	1,381	1,298
Additions Charged to Costs and Expenses	987		83
Additions Charged to Other Accounts
Deductions		(351)
Balance at End of Period	$ 2,017	$ 1,030	$ 1,381

Schedule III - Supplemental F80

Schedule III - Supplemental Financial Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Goodwill, Impairment Loss				$ 16,951
Impairment of Intangible Assets (Excluding Goodwill)				8,000
Tubular And Pipe Products [Member]
Inventory, LIFO Reserve, Effect on Income, Net			1,489	3,347
Goodwill, Impairment Loss				16,451
Impairment of Intangible Assets (Excluding Goodwill)		$ 8,000
Specialty Metal Flat Products [Member]
Goodwill, Impairment Loss	$ 500			$ 500

Schedule III - Supplemental F81

Schedule III - Supplemental Financial Information - Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended																12 Months Ended
		Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Net sales		$ 254,904		$ 268,255		$ 273,608		$ 258,349		$ 237,505		$ 276,922		$ 315,251		$ 345,865		$ 1,055,116		$ 1,175,543
Operating income (loss) (a)		(2,653)	[1]	27	[1]	8,339	[1]	35	[1]	(7,179)	[2]	453	[2]	(24,398)	[2]	3,345	[2]	5,748	[1]	(27,779)	[2]	$ (9,208)
Income (loss) before income taxes		(4,044)		(1,288)		7,007		(1,255)		(8,414)		(1,036)		(25,895)		1,751		420		(33,594)		(16,114)
Net income (loss)		$ (2,104)		$ (1,757)		$ 3,550		$ (767)		$ (4,988)		$ (598)		$ (22,260)		$ 1,069		$ (1,078)		$ (26,777)		$ (19,064)
Basic net income (loss) per share (in dollars per share)		$ (0.19)		$ (0.16)		$ 0.32		$ (0.07)		$ (0.45)		$ (0.05)		$ (1.99)		$ 0.10		$ (0.10)		$ (2.39)		$ (1.71)
Weighted average shares outstanding - basic (in shares)		11,221		11,219		11,216		11,182		11,173		11,203		11,201		11,195		11,210		11,192		11,120
Diluted net income (loss) per share (in dollars per share)		$ (0.19)		$ (0.16)		$ 0.32		$ (0.07)		$ (0.45)		$ (0.05)		$ (1.99)		$ 0.10		$ (0.10)		$ (2.39)		$ (1.71)
Weighted average shares outstanding - diluted (in shares)		11,221		11,219		11,216		11,182		11,173		11,203		11,201		11,195		11,210		11,192		11,120
Market price of common stock: (c)
Net sales		$ 254,904		$ 268,255		$ 273,608		$ 258,349		$ 237,505		$ 276,922		$ 315,251		$ 345,865		$ 1,055,116		$ 1,175,543
Operating income (loss) (a)		(2,653)	[1]	27	[1]	8,339	[1]	35	[1]	(7,179)	[2]	453	[2]	(24,398)	[2]	3,345	[2]	5,748	[1]	(27,779)	[2]	$ (9,208)
Income (loss) before income taxes		(4,044)		(1,288)		7,007		(1,255)		(8,414)		(1,036)		(25,895)		1,751		420		(33,594)		(16,114)
Net income (loss)		$ (2,104)		$ (1,757)		$ 3,550		$ (767)		$ (4,988)		$ (598)		$ (22,260)		$ 1,069		$ (1,078)		$ (26,777)		$ (19,064)
Basic net income (loss) per share (in dollars per share)		$ (0.19)		$ (0.16)		$ 0.32		$ (0.07)		$ (0.45)		$ (0.05)		$ (1.99)		$ 0.10		$ (0.10)		$ (2.39)		$ (1.71)
Weighted average shares outstanding - basic (in shares)		11,221		11,219		11,216		11,182		11,173		11,203		11,201		11,195		11,210		11,192		11,120
Diluted net income (loss) per share (in dollars per share)		$ (0.19)		$ (0.16)		$ 0.32		$ (0.07)		$ (0.45)		$ (0.05)		$ (1.99)		$ 0.10		$ (0.10)		$ (2.39)		$ (1.71)
Weighted average shares outstanding - diluted (in shares)		11,221		11,219		11,216		11,182		11,173		11,203		11,201		11,195		11,210		11,192		11,120
Maximum [Member]
Market price of common stock: (c)
Market price of common stock (in dollars per share)	[3]	$ 28.67		$ 31.19		$ 27.48		$ 17.50		$ 12.60		$ 17.92		$ 20.93		$ 18.57		$ 31.19		$ 20.93
Minimum [Member]
Market price of common stock: (c)
Market price of common stock (in dollars per share)	[3]	$ 17.14		$ 17.42		$ 15.41		$ 7.98		$ 8.98		$ 6.40		$ 10.44		$ 12.86		$ 7.98		$ 6.40
[1]	Operating income (loss) includes $1,489 of LIFO income related to the Company's tubular and pipe products segment.
[2]	Operating income (loss) includes $3,347 of LIFO income related to the Company's tubular and pipe products segment as well as a $16,451 goodwill impairment charge and a $8,000 intangible asset impairment charge recorded in the second quarter related to the Company's tubular and pipe products segment and a $500 goodwill impairment charge recorded in the fourth quarter related to the specialty metals flat products segment.
[3]	Represents the high and low sales prices of our common stock as reported by the Nasdaq Global Select Market.