Olympic Steel (ZEUS) 10-Q 2 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 02, 2018
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)		11,008,399
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 5,501	$ 3,009
Accounts receivable, net	205,245	132,737
Inventories, net (includes LIFO debit of $3,337 as of June 30, 2018 and $5,337 as of December 31, 2017)	363,595	275,307
Prepaid expenses and other	5,273	8,333
Assets held for sale	750	750
Total current assets	580,364	420,136
Property and equipment, at cost	394,470	376,710
Accumulated depreciation	(236,962)	(229,062)
Net property and equipment	157,508	147,648
Intangible assets, net	27,766	22,980
Other long-term assets	13,318	13,394
Total assets	778,956	604,158
Liabilities
Current portion of long-term debt		930
Accounts payable	127,113	84,034
Accrued payroll	15,378	11,999
Other accrued liabilities	15,543	14,184
Total current liabilities	158,034	111,147
Credit facility revolver	297,674	196,235
Other long-term liabilities	11,898	12,048
Deferred income taxes	14,562	12,145
Total liabilities	482,168	331,575
Shareholders' Equity
Preferred stock
Common stock	130,417	129,453
Treasury stock	(132)	(337)
Retained earnings	166,503	143,467
Total shareholders' equity	296,788	272,583
Total liabilities and shareholders' equity	$ 778,956	$ 604,158

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventories, LIFO debit	$ 3,337	$ 5,337

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales	$ 452,917	$ 356,195	$ 828,515	$ 691,088
Costs and expenses
Cost of materials sold (excludes items shown separately below)	356,061	283,041	650,838	541,495
Warehouse and processing	23,813	21,838	47,249	45,339
Administrative and general	21,523	17,887	40,396	36,052
Distribution	13,386	10,568	25,525	20,933
Selling	7,107	6,496	14,335	13,007
Occupancy	2,297	2,191	4,852	4,501
Depreciation	4,164	4,319	8,187	8,633
Amortization	247	222	469	444
Total costs and expenses	428,598	346,562	791,851	670,404
Operating income	24,319	9,633	36,664	20,684
Other loss, net	(93)	(28)	(139)	(54)
Income before interest and income taxes	24,226	9,605	36,525	20,630
Interest and other expense on debt	2,670	1,788	4,656	3,414
Income before income taxes	21,556	7,817	31,869	17,216
Income tax provision	5,708	3,020	8,392	4,720
Net income and total comprehensive income	$ 15,848	$ 4,797	$ 23,477	$ 12,496
Earnings per share:
Net income per share - basic (in dollars per share)	$ 1.39	$ 0.42	$ 2.06	$ 1.10
Weighted average shares outstanding - basic (in shares)	11,435	11,383	11,419	11,382
Net income per share - diluted (in dollars per share)	$ 1.39	$ 0.42	$ 2.06	$ 1.10
Weighted average shares outstanding - diluted (in shares)	11,435	11,390	11,419	11,387
Dividends declared per share of common stock (in dollars per share)	$ 0.02	$ 0.02	$ 0.04	$ 0.04

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from (used for) operating activities:
Net income	$ 23,477	$ 12,496
Adjustments to reconcile net income to net cash from (used for) operating activities -
Depreciation and amortization	8,885	9,537
Loss on disposition of property and equipment	5	6
Stock-based compensation	1,168	804
Other long-term assets	(68)	(760)
Other long-term liabilities	2,195	(672)
	35,662	21,411
Changes in working capital:
Accounts receivable	(65,899)	(56,300)
Inventories	(73,519)	(8,214)
Prepaid expenses and other	3,391	(90)
Accounts payable	41,184	4,935
Change in outstanding checks	(5,318)	(559)
Accrued payroll and other accrued liabilities	2,616	334
	(97,545)	(59,894)
Net cash used for operating activities	(61,883)	(38,483)
Cash flows from (used for) investing activities:
Acquisition of net assets	(21,907)
Capital expenditures	(13,775)	(4,469)
Proceeds from disposition of property and equipment	60	85
Net cash used for investing activities	(35,622)	(4,384)
Cash flows from (used for) financing activities:
Credit facility revolver borrowings	285,167	221,374
Credit facility revolver repayments	(183,728)	(175,246)
Principal payment under capital lease obligation	(2)
Industrial revenue bond repayments	(930)	(895)
Credit facility fees and expenses	(70)	(125)
Proceeds from exercise of stock options (including tax benefits) and employee stock purchases		9
Dividends paid	(440)	(439)
Net cash from financing activities	99,997	44,678
Net change	2,492	1,811
Beginning balance	3,009	2,315
Ending balance	5,501	4,126
Interest paid	4,306	2,955
Income taxes paid	$ 2,055	$ 4,944

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Basis of Presentation: The accompanying consolidated financial statements have been prepared from the financial records of Olympic Steel, Inc. and its wholly-owned subsidiaries (collectively, Olympic or the Company), without audit and reflect all normal and recurring adjustments which are, in the opinion of management, necessary to fairly state the results of the interim periods covered by this report. Year-to-date results are not 2018 10 December 31, 2017. The Company operates in three April 2, 2018, 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 Impact of Recently Issued Accounting Pronouncements In August 2017, No 2017 12, 2016 310 , 815 December 15, 2018, December 15, 2019, December 15, 2020. not not not In May 2017, No 2017 09, 718 1 2 718, 718. 2016 360, 718 December 15, 2017. not In August 2016, No 2016 15, eight zero December 15, 2017, not In February 2016, No. 2016 02, December 15, 2018 In August 2015, 2015 14, 606 2014 09 one December 15, 2017, December 15, 2016, 2014 09 January 2017; 2015 14 January 2018, two no 2015 14 January 1, 2018 not January 1, 2018 not not 606 not three six June 30, 2018. 3.

Note 2 - Acquisitions

Note 2 - Acquisitions	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. Acquisitions : On April 2, 2018, $21.9 1967 one The acquisition is not not As of June 30, Details of Acquisition (in thousands) 2018 Assets acquired Accounts receivable 6,609 Inventories 14,769 Property and equipment 2,898 Prepaid expenses and other 345 Intangible assets 5,255 Total assets acquired 29,876 Total liabilities assumed (7,969 ) Cash paid $ 21,907 As of the effective date of the acquisition, Berlin Metals’ results are included in the Company’s specialty metals flat products segment in the Company’s second 2018

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Revenue Recognition : The Company provides metals processing, distribution and delivery of large volumes of processed carbon, coated flat rolled sheet, coil and plate products, aluminum, and stainless flat rolled products, prime tin mill products, flat bar products, metal tubing, pipe, bar, valves, fittings, and fabricated parts. The Company's contracts with customers are comprised of purchase orders with standard terms and conditions. Occasionally the Company may Transfer of control is assessed based on the use of the product distributed and rights to payment for performance under the contract terms. Transfer of control and revenue recognition for substantially all of the Company’s sales occur upon shipment or delivery of the product, which is when title, ownership and risk of loss pass to the customer and is based on the applicable shipping terms. The shipping terms depend on the customer contract. An invoice for payment is issued at time of shipment and terms are generally net 30 one not Within the metals industry, revenue is frequently disaggregated by products sold. The table below disaggregates the Company’s revenues by segment and products sold. Disaggregated Revenue by Products Sold For the Three Months Ended June 30, 2018 Carbon flat products Specialty metals flat products Tubular and pipe products Total Hot Rolled 35.0% - - 35.0% Plate 12.3% - - 12.3% Cold Rolled 5.7% - - 5.7% Coated 7.5% - - 7.5% Specialty - 19.5% - 19.5% Pipe & Tube - - 16.8% 16.8% Other 1.2% 2.0% - 3.2% Total 61.7% 21.5% 16.8% 100.0% Disaggregated Revenue by Products Sold For the Six Months Ended June 30, 2018 Carbon flat products Specialty metals flat products Tubular and pipe products Total Hot Rolled 35.8% - - 35.8% Plate 12.4% - - 12.4% Cold Rolled 5.4% - - 5.4% Coated 7.8% - - 7.8% Specialty - 18.6% - 18.6% Pipe & Tube - - 17.6% 17.6% Other 1.3% 1.1% - 2.4% Total 62.7% 19.7% 17.6% 100.0%

Note 4 - Accounts Receivable

Note 4 - Accounts Receivable	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Financing Receivables [Text Block]	4. Accounts Receivable : Accounts receivable are presented net of allowances for doubtful accounts and unissued credits of $3.5 $2.8 June 30, 2018 December 31, 2017,

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	5. Inventories : Inventories consisted of the following: Inventory as of (in thousands) June 30, 2018 December 31, 2017 Unprocessed $ 300,237 $ 225,187 Processed and finished 63,358 50,120 Totals $ 363,595 $ 275,307 The Company values certain of its tubular and pipe products inventory at the last-in, first June 30, 2018 December 31, 2017, $55.5 15.3% $48.1 17.5% first first During the three six June 30, 2018, $1.5 $2.0 three six June 30, 2017, $0.4 $0.8 If the FIFO method had been in use, inventories would have been $3.3 $5.3 June 30, 2018 December 31, 2017,

Note 6 - Goodwill and Intangibl

Note 6 - Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. Goodwill and Intangible Assets : The Company’s intangible assets were recorded in connection with its April 2, 2018 July 1, 2011 fifteen fifteen no Goodwill, by reportable segment, was as follows as of June 30, 2018 December 31, 2017, (in thousands) Carbon Flat Products Specialty Metals Flat Products Tubular and Pipe Products Total Balance as of December 31, 2017 $ - $ - $ - $ - Acquisitions - 2,358 - 2,358 Impairments - - - - Balance as of June 30, 2018 $ - $ 2,358 $ - $ 2,358 Intangible assets, net, consisted of the following as of June 30, 2018 December 31, 2017, As of June 30, 2018 (in thousands) Gross Carrying Amount Acquisitions Accumulated Amortization Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ 640 $ (6,232 ) $ 7,740 Covenant not to compete - subject to amortization - 157 (14 ) 143 Trade name - not subject to amortization 15,425 2,100 - 17,525 $ 28,757 $ 2,897 $ (6,246 ) $ 25,408 As of December 31, 2017 (in thousands) Gross Carrying Amount Acquisitions Accumulated Amortization Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ - $ (5,777 ) $ 7,555 Trade name - not subject to amortization 15,425 - - 15,425 $ 28,757 $ - $ (5,777 ) $ 22,980 The Company estimates that amortization expense for its intangible assets subject to amortization will be approximately $1.0 five

Note 7 - Debt

Note 7 - Debt	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Debt : The Company’s debt is comprised of the following components: As of June 30, December 31, (in thousands) 2018 2017 Asset-based revolving credit facility due December 8, 2022 $ 297,674 $ 196,235 Industrial revenue bond due April 1, 2018 - 930 Total debt 297,674 197,165 Less current amount - (930 ) Total long-term debt $ 297,674 $ 196,235 The Company’s asset-based credit facility (the ABL Credit Facility) is collateralized by the Company’s accounts receivable inventory and personal property. The ABL Credit Facility consists of (i) a revolving credit facility of $370 $20 first $30 may $200 $400 December 8, 2022. The ABL Credit Facility contains customary representations and warranties and certain covenants that limit the ability of the Company to, among other things: (i) incur or guarantee additional indebtedness; (ii) pay distributions on, redeem or repurchase capital stock or redeem or repurchase subordinated debt; (iii) make investments; (iv) sell assets; (v) enter into agreements that restrict distributions or other payments from restricted subsidiaries to the Company; (vi) incur liens securing indebtedness; (vii) consolidate, merge or transfer all or substantially all of their assets; and (viii) engage in transactions with affiliates. In addition, the ABL Credit Facility contains a financial covenant which requires (i) if any commitments or obligations are outstanding and the Company’s availability is less than the greater of $30 10.0% $40.0 June 30, 2018) 10.0% $40.0 June 30, 2018), 1.00 1.00 twelve The Company has the option to borrow under its revolver based on the agent’s base rate plus a premium ranging from 0.00% 1.50% 1.25% 2.75%. As of June 30, 2018, $99 As of June 30, 2018, $1.7 five

Note 8 - Derivative Instruments

Note 8 - Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	8. Derivative Instruments : Metals swaps and embedded customer derivatives During 2018 2017, third 2018. third third These derivatives have not third not June 30, 2018 December 31, 2017. Interest rate swap CTI entered into an interest rate swap to reduce the impact of changes in interest rates on its Industrial Revenue Bond (IRB). The swap agreement was terminated in March 2018 There was no three six June 30, 2018 2017. three six June 30, 2018 2017. Net Gain (Loss) Recognized For the Three Months Ended June 30, For the Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Interest rate swap (CTI) $ - $ (5 ) $ (5 ) $ (18 ) Metals swaps 101 (91 ) 207 (77 ) Embedded customer derivatives (101 ) 91 (207 ) 77 Total loss $ - $ (5 ) $ (5 ) $ (18 )

Note 9 - Fair Value of Financia

Note 9 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9. Fair Value of Financial Instruments: During the three June 30, 2018, no 1, 2 3 no June 30, 2018 December 31, 2017. June 30, 2018 December 31, 2017: Metals swaps and embedded customer derivatives 2 Interest rate swaps 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 June 30, 2018 (in thousands) Level 1 Level 2 Level 3 Total Assets: Embedded customer derivative $ - $ 155 $ - $ 155 Total assets at fair value $ - $ 155 $ - $ 155 Liabilities: Metals swaps $ - $ 155 $ - $ 155 Total liabilities recorded at fair value $ - $ 155 $ - $ 155 Value of Items Not Recorded at Fair Value As of June 30, 2018 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: Revolver - 297,674 - 297,674 Total liabilities not recorded at fair value $ - $ 297,674 $ - $ 297,674 The value of the items not Value of Items Recorded at Fair Value As of December 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets: Metals swaps $ - $ 382 $ - $ 382 Total assets at fair value $ - $ 382 $ - $ 382 Liabilities: Embedded customer derivatives $ - $ 382 $ - $ 382 Interest rate swap (CTI) - 5 - 5 Total liabilities recorded at fair value $ - $ 387 $ - $ 387 Value of Items Not Recorded at Fair Value As of December 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: IRB $ 930 $ - $ - $ 930 Revolver - 196,235 - 196,235 Total liabilities not recorded at fair value $ 930 $ 196,235 $ - $ 197,165 The value of the items not The fair value of the IRB was determined using Level 1 $0.9 December 31, 2017. The fair value of the revolver is determined using Level 2 2

Note 10 - Equity Plans

Note 10 - Equity Plans	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. Equity Plans : Restricted Stock Units and Performance Share Units Pursuant to the Amended and Restated Olympic Steel 2007 may 1,000,000 On an annual basis, the Compensation Committee of the Company’s Board of Directors awards restricted stock units (RSUs), to each non-employee Director as part of their annual compensation. The annual awards for 2018 2017 $80,000 $70,000, one not On July 1, 2016, 10% $17,500. five July 1, 2016 January 1, 2017. Stock-based compensation expense recognized on RSUs for the three June 30, 2018 2017, For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands, except per share data) 2018 2017 2018 2017 RSU expense before taxes $ 144 $ 147 $ 282 $ 267 RSU expense after taxes $ 106 $ 91 $ 208 $ 194 All pre-tax charges related to RSUs were included in the caption “Administrative and general” on the accompanying Consolidated Statements of Comprehensive Income. The following table summarizes the activity related to RSUs for the three June 30, 2018: Number of Weighted Average Shares Granted Price Outstanding at December 31, 2017 469,068 $ 20.11 Granted 55,532 22.88 Converted into shares (19,097 ) 16.99 Forfeited (6,709 ) 16.98 Outstanding at June 30, 2018 498,794 $ 20.62 Vested at June 30, 2018 465,234 $ 20.68

Note 11 - Income Taxes

Note 11 - Income Taxes	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. Income Taxes : For the three June 30, 2018, $5.7 26.5% $3.0 38.6% three June 30, 2017. December 22, 2017, 35% 21% January 1, 2018. While the Company has substantially completed its analysis of the income tax effects of the Tax Act and recorded a reasonable estimate of such effects, certain items related to the Tax Act may may may one December 22, 2018, 118 For the six June 30, 2018, $8.4 26.3% $4.7 27.4%, six June 30, 2017. first 2017, 162 six 2017 162 not 2005, $1.9 2017. not The tax provision or benefit for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items that are taken into account in the relevant period. Each quarter the Company updates the estimate of the annual effective tax rate, and if the estimated tax rate changes, the Company makes a cumulative adjustment. The quarterly tax provision and the quarterly estimate of the annual effective tax rate is subject to significant volatility due to several factors, including variability in accurately predicting the Company’s pre-tax and taxable income and loss and the mix of jurisdictions to which they relate, changes in law and relative changes of expenses or losses for which tax benefits are not

Note 12 - Shares Outstanding an

Note 12 - Shares Outstanding and Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Shares Outstanding and Earnings Per Share : Earnings per share have been calculated based on the weighted average number of shares outstanding as set forth below: For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands, except per share data) 2018 2017 2018 2017 Weighted average basic shares outstanding 11,435 11,383 11,419 11,382 Assumed exercise of stock options and issuance of stock awards - 7 - 5 Weighted average diluted shares outstanding 11,435 11,390 11,419 11,387 Net income $ 15,848 $ 4,797 $ 23,477 $ 12,496 Basic earnings per share $ 1.39 $ 0.42 $ 2.06 $ 1.10 Diluted earnings per share $ 1.39 $ 0.42 $ 2.06 $ 1.10 Anti-dilutive securities outstanding 63 43 63 43

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. 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 April 2, 2018, 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 three six June 30, 2017 2016. For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands) 2018 2017 2018 2017 Net sales Carbon flat products $ 279,292 $ 237,058 $ 520,185 $ 453,974 Specialty metals flat products 97,354 58,280 162,884 116,235 Tubular and pipe products 76,271 60,857 145,446 120,879 Total net sales $ 452,917 $ 356,195 $ 828,515 $ 691,088 Depreciation and amortization Carbon flat products $ 2,580 $ 2,905 $ 5,140 $ 5,794 Specialty metals flat products 335 198 540 424 Tubular and pipe products 1,469 1,412 2,925 2,808 Corporate 25 26 51 51 Total depreciation and amortization $ 4,409 $ 4,541 $ 8,656 $ 9,077 Operating income Carbon flat products $ 18,304 $ 7,239 $ 26,409 $ 14,614 Specialty metals flat products 5,524 2,859 8,537 6,844 Tubular and pipe products 4,550 2,344 8,816 4,831 Corporate expenses (4,059 ) (2,809 ) (7,098 ) (5,605 ) Total operating income $ 24,319 $ 9,633 $ 36,664 $ 20,684 Other loss, net (93 ) (28 ) (139 ) (54 ) Income before interest and income taxes 24,226 9,605 36,525 20,630 Interest and other expense on debt 2,670 1,788 4,656 3,414 Income before income taxes $ 21,556 $ 7,817 $ 31,869 $ 17,216 For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands) 2018 2017 2018 2017 Capital expenditures Flat products segments $ 5,365 $ 1,777 $ 10,309 $ 3,182 Tubular and pipe products 383 626 3,093 1,287 Corporate 283 - 373 - Total capital expenditures $ 6,031 $ 2,403 $ 13,775 $ 4,469 As of June 30, December 31, (in thousands) 2018 2017 Total assets Flat products segments $ 569,775 $ 409,116 Tubular and pipe products 208,605 194,787 Corporate 576 255 Total assets $ 778,956 $ 604,158 There were no The Company sells certain products internationally, primarily in Canada and Mexico. International sales are immaterial to the consolidated financial results and to the individual segments’ results.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Impact of Recently Issued Accounting Pronouncements In August 2017, No 2017 12, 2016 310 , 815 December 15, 2018, December 15, 2019, December 15, 2020. not not not In May 2017, No 2017 09, 718 1 2 718, 718. 2016 360, 718 December 15, 2017. not In August 2016, No 2016 15, eight zero December 15, 2017, not In February 2016, No. 2016 02, December 15, 2018 In August 2015, 2015 14, 606 2014 09 one December 15, 2017, December 15, 2016, 2014 09 January 2017; 2015 14 January 2018, two no 2015 14 January 1, 2018 not January 1, 2018 not not 606 not three six June 30, 2018. 3.

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	As of June 30, Details of Acquisition (in thousands) 2018 Assets acquired Accounts receivable 6,609 Inventories 14,769 Property and equipment 2,898 Prepaid expenses and other 345 Intangible assets 5,255 Total assets acquired 29,876 Total liabilities assumed (7,969 ) Cash paid $ 21,907

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Disaggregated Revenue by Products Sold For the Three Months Ended June 30, 2018 Carbon flat products Specialty metals flat products Tubular and pipe products Total Hot Rolled 35.0% - - 35.0% Plate 12.3% - - 12.3% Cold Rolled 5.7% - - 5.7% Coated 7.5% - - 7.5% Specialty - 19.5% - 19.5% Pipe & Tube - - 16.8% 16.8% Other 1.2% 2.0% - 3.2% Total 61.7% 21.5% 16.8% 100.0% Disaggregated Revenue by Products Sold For the Six Months Ended June 30, 2018 Carbon flat products Specialty metals flat products Tubular and pipe products Total Hot Rolled 35.8% - - 35.8% Plate 12.4% - - 12.4% Cold Rolled 5.4% - - 5.4% Coated 7.8% - - 7.8% Specialty - 18.6% - 18.6% Pipe & Tube - - 17.6% 17.6% Other 1.3% 1.1% - 2.4% Total 62.7% 19.7% 17.6% 100.0%

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventory as of (in thousands) June 30, 2018 December 31, 2017 Unprocessed $ 300,237 $ 225,187 Processed and finished 63,358 50,120 Totals $ 363,595 $ 275,307

Note 6 - Goodwill and Intangi23

Note 6 - Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Goodwill [Table Text Block]	(in thousands) Carbon Flat Products Specialty Metals Flat Products Tubular and Pipe Products Total Balance as of December 31, 2017 $ - $ - $ - $ - Acquisitions - 2,358 - 2,358 Impairments - - - - Balance as of June 30, 2018 $ - $ 2,358 $ - $ 2,358
Schedule of Finite and Indefinite Lived Intangible Assets [Table Text Block]	As of June 30, 2018 (in thousands) Gross Carrying Amount Acquisitions Accumulated Amortization Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ 640 $ (6,232 ) $ 7,740 Covenant not to compete - subject to amortization - 157 (14 ) 143 Trade name - not subject to amortization 15,425 2,100 - 17,525 $ 28,757 $ 2,897 $ (6,246 ) $ 25,408 As of December 31, 2017 (in thousands) Gross Carrying Amount Acquisitions Accumulated Amortization Intangible Assets, Net Customer relationships - subject to amortization $ 13,332 $ - $ (5,777 ) $ 7,555 Trade name - not subject to amortization 15,425 - - 15,425 $ 28,757 $ - $ (5,777 ) $ 22,980

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Debt [Table Text Block]	As of June 30, December 31, (in thousands) 2018 2017 Asset-based revolving credit facility due December 8, 2022 $ 297,674 $ 196,235 Industrial revenue bond due April 1, 2018 - 930 Total debt 297,674 197,165 Less current amount - (930 ) Total long-term debt $ 297,674 $ 196,235

Note 8 - Derivative Instrumen25

Note 8 - Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Net Gain (Loss) Recognized For the Three Months Ended June 30, For the Six Months Ended June 30, (in thousands) 2018 2017 2018 2017 Interest rate swap (CTI) $ - $ (5 ) $ (5 ) $ (18 ) Metals swaps 101 (91 ) 207 (77 ) Embedded customer derivatives (101 ) 91 (207 ) 77 Total loss $ - $ (5 ) $ (5 ) $ (18 )

Note 9 - Fair Value of Financ26

Note 9 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 (in thousands) Level 1 Level 2 Level 3 Total Assets: Embedded customer derivative $ - $ 155 $ - $ 155 Total assets at fair value $ - $ 155 $ - $ 155 Liabilities: Metals swaps $ - $ 155 $ - $ 155 Total liabilities recorded at fair value $ - $ 155 $ - $ 155 Value of Items Recorded at Fair Value As of December 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets: Metals swaps $ - $ 382 $ - $ 382 Total assets at fair value $ - $ 382 $ - $ 382 Liabilities: Embedded customer derivatives $ - $ 382 $ - $ 382 Interest rate swap (CTI) - 5 - 5 Total liabilities recorded at fair value $ - $ 387 $ - $ 387
Fair Value, by Balance Sheet Grouping [Table Text Block]	Value of Items Not Recorded at Fair Value As of June 30, 2018 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: Revolver - 297,674 - 297,674 Total liabilities not recorded at fair value $ - $ 297,674 $ - $ 297,674 Value of Items Not Recorded at Fair Value As of December 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Liabilities: IRB $ 930 $ - $ - $ 930 Revolver - 196,235 - 196,235 Total liabilities not recorded at fair value $ 930 $ 196,235 $ - $ 197,165

Note 10 - Equity Plans (Tables)

Note 10 - Equity Plans (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands, except per share data) 2018 2017 2018 2017 RSU expense before taxes $ 144 $ 147 $ 282 $ 267 RSU expense after taxes $ 106 $ 91 $ 208 $ 194
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	Number of Weighted Average Shares Granted Price Outstanding at December 31, 2017 469,068 $ 20.11 Granted 55,532 22.88 Converted into shares (19,097 ) 16.99 Forfeited (6,709 ) 16.98 Outstanding at June 30, 2018 498,794 $ 20.62 Vested at June 30, 2018 465,234 $ 20.68

Note 12 - Shares Outstanding 28

Note 12 - Shares Outstanding and Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands, except per share data) 2018 2017 2018 2017 Weighted average basic shares outstanding 11,435 11,383 11,419 11,382 Assumed exercise of stock options and issuance of stock awards - 7 - 5 Weighted average diluted shares outstanding 11,435 11,390 11,419 11,387 Net income $ 15,848 $ 4,797 $ 23,477 $ 12,496 Basic earnings per share $ 1.39 $ 0.42 $ 2.06 $ 1.10 Diluted earnings per share $ 1.39 $ 0.42 $ 2.06 $ 1.10 Anti-dilutive securities outstanding 63 43 63 43

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands) 2018 2017 2018 2017 Net sales Carbon flat products $ 279,292 $ 237,058 $ 520,185 $ 453,974 Specialty metals flat products 97,354 58,280 162,884 116,235 Tubular and pipe products 76,271 60,857 145,446 120,879 Total net sales $ 452,917 $ 356,195 $ 828,515 $ 691,088 Depreciation and amortization Carbon flat products $ 2,580 $ 2,905 $ 5,140 $ 5,794 Specialty metals flat products 335 198 540 424 Tubular and pipe products 1,469 1,412 2,925 2,808 Corporate 25 26 51 51 Total depreciation and amortization $ 4,409 $ 4,541 $ 8,656 $ 9,077 Operating income Carbon flat products $ 18,304 $ 7,239 $ 26,409 $ 14,614 Specialty metals flat products 5,524 2,859 8,537 6,844 Tubular and pipe products 4,550 2,344 8,816 4,831 Corporate expenses (4,059 ) (2,809 ) (7,098 ) (5,605 ) Total operating income $ 24,319 $ 9,633 $ 36,664 $ 20,684 Other loss, net (93 ) (28 ) (139 ) (54 ) Income before interest and income taxes 24,226 9,605 36,525 20,630 Interest and other expense on debt 2,670 1,788 4,656 3,414 Income before income taxes $ 21,556 $ 7,817 $ 31,869 $ 17,216
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	For the Three Months Ended For the Six Months Ended June 30, June 30, (in thousands) 2018 2017 2018 2017 Capital expenditures Flat products segments $ 5,365 $ 1,777 $ 10,309 $ 3,182 Tubular and pipe products 383 626 3,093 1,287 Corporate 283 - 373 - Total capital expenditures $ 6,031 $ 2,403 $ 13,775 $ 4,469 As of June 30, December 31, (in thousands) 2018 2017 Total assets Flat products segments $ 569,775 $ 409,116 Tubular and pipe products 208,605 194,787 Corporate 576 255 Total assets $ 778,956 $ 604,158

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2018
Number of Reportable Segments	3

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) $ in Millions	Apr. 02, 2018USD ($)
Berlin Metals [Member]
Business Combination, Consideration Transferred, Total	$ 21.9

Note 2 - Acquisitions - Purchas

Note 2 - Acquisitions - Purchase Price Allocation (Details) - Berlin Metals [Member] $ in Thousands	Apr. 02, 2018USD ($)
Accounts receivable	$ 6,609
Inventories	14,769
Property and equipment	2,898
Prepaid expenses and other	345
Intangible assets	5,255
Total assets acquired	29,876
Total liabilities assumed	(7,969)
Cash paid	$ 21,907

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenues, Percentage (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Percentage of net sales	100.00%	100.00%
Hot Rolled Products [Member]
Percentage of net sales	35.00%	35.80%
Plate Products [Member]
Percentage of net sales	12.30%	12.40%
Cold Rolled Products [Member]
Percentage of net sales	5.70%	5.40%
Coated Products [Member]
Percentage of net sales	7.50%	7.80%
Specialty [Member]
Percentage of net sales	19.50%	18.60%
Pipe and Tube Products [Member]
Percentage of net sales	16.80%	17.60%
Product and Service, Other [Member]
Percentage of net sales	3.20%	2.40%
Carbon Flat Products [Member]
Percentage of net sales	61.70%	62.70%
Carbon Flat Products [Member] | Hot Rolled Products [Member]
Percentage of net sales	35.00%	35.80%
Carbon Flat Products [Member] | Plate Products [Member]
Percentage of net sales	12.30%	12.40%
Carbon Flat Products [Member] | Cold Rolled Products [Member]
Percentage of net sales	5.70%	5.40%
Carbon Flat Products [Member] | Coated Products [Member]
Percentage of net sales	7.50%	7.80%
Carbon Flat Products [Member] | Specialty [Member]
Percentage of net sales
Carbon Flat Products [Member] | Pipe and Tube Products [Member]
Percentage of net sales
Carbon Flat Products [Member] | Product and Service, Other [Member]
Percentage of net sales	1.20%	1.30%
Specialty Metals Flat Products [Member]
Percentage of net sales	21.50%	19.70%
Specialty Metals Flat Products [Member] | Hot Rolled Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] | Plate Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] | Cold Rolled Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] | Coated Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] | Specialty [Member]
Percentage of net sales	19.50%	18.60%
Specialty Metals Flat Products [Member] | Pipe and Tube Products [Member]
Percentage of net sales
Specialty Metals Flat Products [Member] | Product and Service, Other [Member]
Percentage of net sales	2.00%	1.10%
Tubular and Pipe Products [Member]
Percentage of net sales	16.80%	17.60%
Tubular and Pipe Products [Member] | Hot Rolled Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] | Plate Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] | Cold Rolled Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] | Coated Products [Member]
Percentage of net sales
Tubular and Pipe Products [Member] | Specialty [Member]
Percentage of net sales
Tubular and Pipe Products [Member] | Pipe and Tube Products [Member]
Percentage of net sales	16.80%	17.60%
Tubular and Pipe Products [Member] | Product and Service, Other [Member]
Percentage of net sales

Note 4 - Accounts Receivable (D

Note 4 - Accounts Receivable (Details Textual) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable, Current, Ending Balance	$ 3.5	$ 2.8

Note 5 - Inventories (Details T

Note 5 - Inventories (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
LIFO Inventory Amount	$ 55.5		$ 55.5		$ 48.1
Percentage of LIFO Inventory	15.30%		15.30%		17.50%
Inventory, LIFO Reserve, Period Charge	$ 1.5	$ 0.4	$ 2	$ 0.8
Inventory Difference Using FIFO Basis	$ 3.3		$ 3.3		$ 5.3

Note 5 - Inventories - Steel In

Note 5 - Inventories - Steel Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Unprocessed	$ 300,237	$ 225,187
Processed and finished	63,358	50,120
Totals	$ 363,595	$ 275,307

Note 6 - Goodwill and Intangi37

Note 6 - Goodwill and Intangible Assets (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 1
Finite-Lived Intangible Assets, Amortization Expense, Year Two	1
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 1
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Finite-Lived Intangible Assets, Remaining Amortization Period	15 years

Note 6 - Goodwill and Intangi38

Note 6 - Goodwill and Intangible Assets - Goodwill, by Reportable Segment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Balance as of December 31, 2017
Acquisitions	2,358
Impairments
Balance as of June 30, 2018	2,358
Carbon Flat Products [Member]
Balance as of December 31, 2017
Acquisitions
Impairments
Balance as of June 30, 2018
Specialty Metals Flat Products [Member]
Balance as of December 31, 2017
Acquisitions	2,358
Impairments
Balance as of June 30, 2018	2,358
Tubular and Pipe Products [Member]
Balance as of December 31, 2017
Acquisitions
Impairments
Balance as of June 30, 2018

Note 6 - Goodwill and Intangi39

Note 6 - Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Gross carrying amount	$ 28,757	$ 28,757
Accumulated amortization	(6,246)	(5,777)
Intangible assets, net	27,766	22,980
Acquisitions	2,897
Trade Names [Member]
Gross carrying amount	15,425	15,425
Accumulated amortization
Intangible assets, net	17,525	15,425
Acquisitions	2,100
Customer Relationships [Member]
Gross carrying amount	13,332	13,332
Acquisitions	640
Accumulated amortization	(6,232)	(5,777)
Intangible assets, net	7,740	$ 7,555
Noncompete Agreements [Member]
Gross carrying amount
Acquisitions	157
Accumulated amortization	(14)
Intangible assets, net	$ 143

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Prepaid Expense and Other Assets, Current	$ 5,273	$ 8,333
Amortized Banking Fees [Member]
Prepaid Expense and Other Assets, Current	$ 1,700
ABL Credit Facility [Member]
Debt Instrument, Term	5 years
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] | ABL Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 370,000
Letters of Credit, Maximum Borrowing Capacity	20,000
Maximum First In, Last Out Revolving Credit Facility	30,000
Line of Credit Facility, Additional Commitments, Maximum	200,000
Line of Credit Facility, Current Borrowing Capacity	400,000
Line Of Credit Facility Covenant Terms Monetary	$ 30,000
Line of Credit Facility Covenant Terms Percentage of Revolver Commitments	10.00%
Line of Credit Facility Covenant Terms Aggregate Borrowing Base	$ 40,000
Line of Credit Facility Covenant Terms EBITDA Ratio	1
Line of Credit Facility, Remaining Borrowing Capacity	$ 99,000
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] | ABL Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.00%
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] | ABL Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] | ABL Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Asset Based Revolving Credit Facility Due December 8, 2022 [Member] | ABL Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%

Note 7 - Debt - Summary of Debt

Note 7 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Revolver	$ 297,674	$ 196,235
Total debt	297,674	197,165
Less current amount		(930)
Total long-term debt	297,674	196,235
Asset Based Revolving Credit Facility Due December 8, 2022 [Member]
Revolver	297,674	196,235
Industrial Revenue Bonds [Member]
IRB		$ 930

Note 8 - Derivative Instrumen42

Note 8 - Derivative Instruments - Impact from Derivatives on Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivatives		$ (5)	$ (5)	$ (18)
Interest Rate Swap [Member] | Chicago Tube and Iron Company Acquisition [Member]
Derivatives		(5)	(5)	(18)
Metal Swaps [Member]
Derivatives	101	(91)	207	(77)
Embedded Customer Derivatives [Member]
Derivatives	$ (101)	$ 91	$ (207)	$ 77

Note 9 - Fair Value of Financ43

Note 9 - Fair Value of Financial Instruments (Details Textual) $ in Millions	Dec. 31, 2017USD ($)
Industrial Revenue Bonds [Member]
Long-term Debt, Fair Value	$ 0.9

Note 9 - Fair Value of Financ44

Note 9 - Fair Value of Financial Instruments - Fair Value Measurements, Recorded (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets:
Embedded customer derivative	$ 155
Total assets at fair value	155	$ 382
Liabilities:
Total assets at fair value	155	382
Total liabilities recorded at fair value	155	387
Embedded customer derivatives		382
Metal Swaps [Member]
Assets:
Total assets at fair value	155	382
Liabilities:
Total assets at fair value	155	382
Interest Rate Swap [Member]
Liabilities:
Derivative liabilities		5
Fair Value, Inputs, Level 1 [Member]
Assets:
Embedded customer derivative
Total assets at fair value
Liabilities:
Total assets at fair value
Total liabilities recorded at fair value
Embedded customer derivatives
Fair Value, Inputs, Level 1 [Member] | Metal Swaps [Member]
Assets:
Total assets at fair value
Liabilities:
Total assets at fair value
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Liabilities:
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Assets:
Embedded customer derivative	155
Total assets at fair value	155	382
Liabilities:
Total assets at fair value	155	382
Total liabilities recorded at fair value	155	387
Embedded customer derivatives		382
Fair Value, Inputs, Level 2 [Member] | Metal Swaps [Member]
Assets:
Total assets at fair value	155	382
Liabilities:
Total assets at fair value	155	382
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Liabilities:
Derivative liabilities		5
Fair Value, Inputs, Level 3 [Member]
Assets:
Embedded customer derivative
Total assets at fair value
Liabilities:
Total assets at fair value
Total liabilities recorded at fair value
Embedded customer derivatives
Fair Value, Inputs, Level 3 [Member] | Metal Swaps [Member]
Assets:
Total assets at fair value
Liabilities:
Total assets at fair value
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Liabilities:
Derivative liabilities

Note 9 - Fair Value of Financ45

Note 9 - Fair Value of Financial Instruments - Fair Value Measurements, Not Recorded (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Liabilities
Revolver	$ 297,674	$ 196,235
Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	297,674	197,165
Industrial Revenue Bonds [Member]
Liabilities
IRB		930
Fair Value, Inputs, Level 1 [Member] | Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value		930
Fair Value, Inputs, Level 1 [Member] | Industrial Revenue Bonds [Member]
Liabilities
IRB		930
Fair Value, Inputs, Level 2 [Member] | Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value	297,674	196,235
Fair Value, Inputs, Level 2 [Member] | Industrial Revenue Bonds [Member]
Liabilities
IRB
Fair Value, Inputs, Level 3 [Member] | Carrying Value [Member]
Liabilities
Total liabilities not recorded at fair value
Fair Value, Inputs, Level 3 [Member] | Industrial Revenue Bonds [Member]
Liabilities
IRB
Revolver [Member]
Liabilities
Revolver	297,674	196,235
Revolver [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities
Revolver
Revolver [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities
Revolver	297,674	196,235
Revolver [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities
Revolver

Note 10 - Equity Plans (Details

Note 10 - Equity Plans (Details Textual) - USD ($)	Jul. 01, 2016	Jun. 30, 2018	Jun. 30, 2017
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		55,532
Restricted Stock Units (RSUs) [Member] | Senior Management Stock Incentive Program [Member]
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
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
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		80,000	70,000
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,000,000

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	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
RSU expense before taxes	$ 144	$ 147	$ 282	$ 267
RSU expense after taxes	$ 106	$ 91	$ 208	$ 194

Note 10 - Equity Plans - Restri

Note 10 - Equity Plans - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2018$ / sharesshares
Outstanding, beginning balance (in shares) | shares	469,068
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 20.11
Granted (in shares) | shares	55,532
Granted (in dollars per share) | $ / shares	$ 22.88
Converted into shares (in shares) | shares	(19,097)
Converted into shares (in dollars per share) | $ / shares	$ 16.99
Forfeited (in shares) | shares	(6,709)
Forfeited (in dollars per share) | $ / shares	$ 16.98
Outstanding, ending balance (in shares) | shares	498,794
Outstanding, ending balance (in dollars per share) | $ / shares	$ 20.62
Vested (in shares) | shares	465,234
Vested (in dollars per share) | $ / shares	$ 20.68

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Income Tax Expense (Benefit), Total	$ 5,708	$ 3,020	$ 8,392	$ 4,720
Effective Income Tax Rate Reconciliation, Percent, Total	26.50%	38.60%	26.30%	27.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%		35.00%
Restatement Adjustment [Member]
Income Tax Expense (Benefit), Total					$ (1,900)

Note 12 - Shares Outstanding 50

Note 12 - Shares Outstanding and Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Weighted average basic shares outstanding (in shares)	11,435	11,383	11,419	11,382
Assumed exercise of stock options and issuance of stock awards (in shares)		7		5
Weighted average diluted shares outstanding (in shares)	11,435	11,390	11,419	11,387
Net income	$ 15,848	$ 4,797	$ 23,477	$ 12,496
Basic earnings per share (in dollars per share)	$ 1.39	$ 0.42	$ 2.06	$ 1.10
Diluted earnings per share (in dollars per share)	$ 1.39	$ 0.42	$ 2.06	$ 1.10
Anti-dilutive securities outstanding (in shares)	63	43	63	43

Note 13 - Segment Information51

Note 13 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2018
Number of Reportable Segments	3

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Reporting Information by Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales:
Net sales	$ 452,917	$ 356,195	$ 828,515	$ 691,088
Depreciation and amortization:
Depreciation and amortization	4,409	4,541	8,656	9,077
Operating income (loss):
Operating income	24,319	9,633	36,664	20,684
Other loss, net	(93)	(28)	(139)	(54)
Income before interest and income taxes	24,226	9,605	36,525	20,630
Interest and other expense on debt	2,670	1,788	4,656	3,414
Income before income taxes	21,556	7,817	31,869	17,216
Carbon Flat Products [Member]
Net sales:
Net sales	279,292	237,058	520,185	453,974
Depreciation and amortization:
Depreciation and amortization	2,580	2,905	5,140	5,794
Operating income (loss):
Operating income	18,304	7,239	26,409	14,614
Specialty Metals Flat Products [Member]
Net sales:
Net sales	97,354	58,280	162,884	116,235
Depreciation and amortization:
Depreciation and amortization	335	198	540	424
Operating income (loss):
Operating income	5,524	2,859	8,537	6,844
Tubular and Pipe Products [Member]
Net sales:
Net sales	76,271	60,857	145,446	120,879
Depreciation and amortization:
Depreciation and amortization	1,469	1,412	2,925	2,808
Operating income (loss):
Operating income	4,550	2,344	8,816	4,831
Corporate Segment [Member]
Depreciation and amortization:
Depreciation and amortization	25	26	51	51
Operating income (loss):
Operating income	$ (4,059)	$ (2,809)	$ (7,098)	$ (5,605)

Note 13 - Segment Information53

Note 13 - Segment Information - Segment Reporting Information by Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Capital expenditures:
Capital expenditures	$ 6,031	$ 2,403	$ 13,775	$ 4,469
Total assets	778,956		778,956		$ 604,158
Flat Products Segment [Member]
Capital expenditures:
Capital expenditures	5,365	1,777	10,309	3,182
Total assets	569,775		569,775		409,116
Tubular and Pipe Products [Member]
Capital expenditures:
Capital expenditures	383	626	3,093	1,287
Total assets	208,605		208,605		194,787
Corporate Segment [Member]
Capital expenditures:
Capital expenditures	283		373
Total assets	$ 576		$ 576		$ 255