ArcelorMittal and the United Steelworkers union have reached a tentative bargaining agreement, ending eight months of talks.
The union announced the pact to its members Wednesday in a bargaining update on its website.
No contract details were divulged but the union said the agreement "preserves our economic security and other contractual protections."
If ratified, the contract runs until Sept. 1, 2018.
"Recognizing the challenges facing our industry — mainly the result of historic levels of unfairly traded imports and a depressed market for our products — we committed very early in this process to address the company's needs while protecting future generations and without burdening current or future retirees with unnecessary expenses," union officials said in their statement.
Union officials called it a "fair agreement" that balances the need of management to save money, while maintaining a standard of living for union workers.
Major issues were health care costs for active members and retirees, vacation pay, incentive coverage, and safety. About 10,000 Mittal workers work in steel mills in Lake and Porter counties.
Both sides have said tougher trade laws are needed to stem the tide of imported steel flooding the market.