Management and unions at the ISPAT plant in Cork will meet again tomorrow to explore whether the facility can be saved.
Last Friday ISPAT told the 400 steel workers it was closing the plant immediately and that a liquidator would be appointed.
The unions met management yesterday in Carrigaline, Co Cork, for three hours of talks during which the £2.9 million savings plan was again at the centre of discussions.
The ISPAT chief executive, Mr Gerry Gorman, said the discussions has been "frank" and Mr Joe O'Flynn, SIPTU regional branch secretary, said both sides had agreed not to comment any further prior to tomorrow's talks.
READ MORE
Mr O'Flynn indicated, however, that both sides faced difficult negotiations if the steel plant was to be saved.