Arrium Ltd.'s administrator, KordaMentha, said it has short-listed two bidders for the company's Australian business but did not name them.

According to the March 30 release, both of the bidders are looking to purchase the Arrium Australia business in one-line.

The administrator will receive the bids in the next stage of the process and is targeting a June 30 completion date.

In November 2016, a POSCO spokesman indicated it had bid for Arrium's Whyalla steelworks in South Australia. The other bidder is speculated to be metals trader Liberty House Group.