Reuters reported that German steel workers union IG Metall’s & employers have struck a deal for a 6.5% wage hike from August, ending lengthy negotiations that come amid soaring inflation and a spike in energy prices. Workers will also receive a one-time payment of 500 euros for the months of June and July to help them offset high energy prices. IG Metall Northwestern Germany Negotiator Mr Knut Giesler said "This is the highest percentage increase in the steel industry in 30 years.”IG Metall had initially demanded an 8.2% pay rise for the roughly 68,000 workers.German Industriegewerkschaft Metall is the dominant metalworkers' union in Germany, making it the country's largest union as well as Europe's largest industrial union. IG Metall mainly represents employees at major steel makers, such as ThyssenKrupp, Salzgitter AG & ArcelorMittal. Strikes are rare in Germany, where companies and unions strive for consensus whenever possible.