Steel futures could bring price stability-Severstal

PARIS, Dec 3 (Reuters) - Steel futures could bring price stability to the $800 billion steel industry, which has seen significant price volatility in the last few years, an official at Russian steelmaker Severstal (CHMF.MM) said on Wednesday.

"Steel futures could be extremely helpful to evaluate investments," Vadim Makhov, board member of Russia's biggest steelmaker, said.

"It (futures market) is going to take off, it is a new reality and we have to recognize it," he said at a Metal Bulletin steel conference in Paris. "It is the industry's responsibility to use it productively."

(Reporting by Humeyra Pamuk; editing by Sue Thomas