After three years with no pay increases, the USW seeks raises at a time when the steel industry is booming, with hot-rolled coil selling for around $900 a ton, according to the pricing website SteelBenchmarker. But the union said the Pittsburgh-based steelmaker wants concessions, including more out-of-pocket health care costs, reduced retiree benefits and no raises in the last half of a six-year contract.

U.S. Steel said its offer means stability for workers, a $4,000 signing bonus, a minimum of $6,000 in profit-sharing and wage increases of 4 percent in the first year and 3 percent in each of the next two years. The Pittsburgh-based steelmaker said employees also would gain a $0.15 per hour gain to their 401(k) retirement plans.

The two sides failed to find common ground before the current three-year pact expired Sept 1. They'll resume talks next week, but the USW international leadership could decide to strike at any time.