S.Korea POSCO to raise steel prices in Q2 -exec

SEOUL, March 10 (Reuters) - South Korea's POSCO (005490.KS), the world's No.4 steelmaker, said on Wednesday that it would raise major steel product prices in the second quarter of this year by at least 20 percent due to higher raw material costs.

Hwang Eun-yeon, senior vice president in charge of marketing strategy at POSCO, also said in an interview with Reuters that POSCO could not help but make its steel product pricing mechanism more short-term if benchmark prices of raw material imports were determined on a shorter-term basis.

(Reporting by Cho Mee-young; Editing by Jonathan Hopfner)