Note 8 - Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

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, 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 Recorded at Fair Value
	As of December 31, 2014
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Embedded customer derivatives	$	-	$	487	$	-	$	487
Total assets at fair value	$	-	$	487	$	-	$	487
Liabilities:
Metals swaps	$	-	$	487	$	-	$	487
Interest rate swap (CTI)		-		178		-		178
Fixed interest rate swap (ABL)		-		386		-		386
Total liabilities recorded at fair value	$	-	$	1,051	$	-	$	1,051

Fair Value, by Balance Sheet Grouping [Table Text Block]

	Value of Items Not Recorded at Fair Value
	As of 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

	Value of Items Not Recorded at Fair Value
	As of December 31, 2014
(in thousands)	Level 1		Level 2		Level 3		Total
Liabilities:
IRB	$	3,530	$	-	$	-	$	3,530
ABL Credit Facility		-		244,090		-		244,090
Total liabilities not recorded at fair value	$	3,530	$	244,090	$	-	$	247,620

Fair Value Measurements, Nonrecurring [Table Text Block]

Assets Measured at Fair Value on a Nonrecurring Basis
(in thousands)	12/31/15		Level 1		Level 2		Level 3		Total Gain / (Loss)
Goodwill (tubular and pipe products segment)	$	-	$	-	$	-	$	-	$	(16,451	)
Goodwill (specialty metals flat products segment)		-		-		-		-		(500	)
Trade name (tubular and pipe products segment)		15,425		-		-		15,425		(8,000	)
Total	$	15,425	$	-	$	-	$	15,425	$	(24,951	)