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Time is running out for ALCOA to reach an agreement with the United Steel Worker's Union and avoid a strike.

The current contract runs out at midnight central time Thursday night. ALCOA says it is preparing for a possible work stoppage if an agreement is not reached in time.

The agreement covers about 6,100 workers at 10 U.S. plants. The current holdup points are healthcare and temporary workers.

One member of the Steel Worker's Union says there are still several possibilities.

"There could be a work stoppage which would mean a strike, or there could be a lockout situation where the company decides to lock us out. The third option is to work under the current contract and let them continue to negotiate," explained Jennifer Myers.

She went on to say the deadline could be extended.

We reached out to ALCOA for an interview but they declined.

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