The union, which embarked on a strike on 11 May demanding a 10% wage hike, said it had agreed on a 6.5% increase across the board - on basic pay and allowances - backdated to 1 April 2022.
The company, Africa's biggest steel producer which is majority-owned by Luxembourg-based ArcelorMittal SA, also agreed to make a one-off payment to all workers of R5,000, the union said.
"The National Union of Metalworkers of South Africa is pleased to announce that it has signed an above-inflation increase for all workers at ArcelorMittal South Africa (Amsa)," Numsa said in a statement late Wednesday.
"We met with the executives of the company today to negotiate an end to the strike our members accepted. As a result, the strike at AMSA is over."
ArcelorMittal was not immediately available to comment.
The company had tabled a final offer of 7%, made up of a 5% increase across the board on all remuneration elements as well as a 2% cash equivalent based on all remuneration elements.
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