Johannesburg — "It's a mexican standoff in my eyes. Both ArcelorMittal and Kumba need an agreement to be reached soon, with no reliable demand Kumba will also suffer." - Analyst Chris Gilmour

ArcelorMittal shares were suspended from Friday until Wednesday late afternoon - then lost 23% of value in less than 40 minutes.

The share price recovered by 3% yesterday, but this morning has dropped .62% in morning trade to R88 a share.

ArcelorMittal was trading as much as R130 recently, but their legal tussle with Kumba over Iron Ore delivery has resulted in shareholders taking a dim view of it's prospectus.

Chris Gilmour at ABSA Investment believes the share price will hover around the current level until the dispute between ArcelorMittal and Kumba is resolved.

Gilmour says government will probably get involved in the spat with the Minister of Trade and Industry Rob Davies voicing it's concern over the spat.

But Davies has not dealt directly with the matter since last week according to sources in the Department contacted by Business Day Online this week.

He may apply his mind to the issue next Monday - according to the source.