UPDATE 1-S.Korea POSCO raises steel prices 6 pct from July


* POSCO raises local product prices by 6 pct from July * Price increase below market expectations (Adds details, shares) SEOUL, June 22 (Reuters) - South Korea's POSCO said it would raise prices of its benchmark steel products by a less-than-expected 6 percent from July, but the increase would not be enough to cover higher raw materials prices. POSCO, the world's No.4 steelmaker, said in a statement on Tuesday that the domestic price of hot-rolled steel would rise to 900,000 won ...

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