LTV said it wants to renegotiate its USW contract.

Dallas-based LTV Steel said it must renegotiate a 6-month-old labor agreement with about 30,000 steel workers if the company is to survive the reorganization of its parent, LTV Corp. The announcement by the steel company, which filed for protection under Chapter 11 of the U.S. Bankruptcy Code on July 17, came as no surprise to United Steelworkers union officials. USW District 28 Director Frank Valenta said the union would not automatically go along with the proposal. The union signed a three-year contract with LTV that went into effect April 1.