Arrium's administrators say the troubled miner and steelmaker has no immediate cash concerns and can continue to trade while a plan to take the company forward is negotiated.
Paul Billingham, from administrators Grant Thornton, met with union officials in Adelaide on Friday and says the workers at Arrium's Whyalla operations and across the country are their first concern.
He said the meeting was open and constructive and the administrators have a plan which relies on all the stakeholders supporting Arrium.
"It's early days but we're very happy with the support we've had from creditors, suppliers and customers," Mr Billingham said.
"Our forecasts show that we've got no particular cash concerns.
"It really depends on customers continuing to support Arrium, buying the products, that's very important.
"We see no particular issues there."
The Australian Workers Union has also described Friday's meeting as positive.
Mr Billingham will later meet with South Australian Treasurer Tom Koutsantonis and federal Industry Minister Christopher Pyne ahead of a meeting of Arrium creditors later this month.
Both Mr Pyne and Mr Koutsantonis want the company to trade out of its difficulties.
The SA treasurer has called for calm heads and says the state government is still willing to make some form of contribution to help the struggling manufacturer.
Arrium is more than $2 billion in debt.
Trading in its shares was suspended on Wednesday after lenders rejected a $US927 million ($A1.23 billion) lifeline from US private equity group GSO Capital Partners that would have them suffering steep losses.
Australian Workers' Union national secretary Scott McDine said the process to move Arrium forward would take time to resolve but there were some positive signs.
"This is a very disconcerting period for a lot of people, for a lot of our members, in a lot of regional centres," he said.
"These jobs are critically important to Australian families, to Australian communities and also to the broader Australian economy."
