POSCO quarterly operating profit drops as raw material costs bite

SEOUL (Reuters) - South Korean steelmaker POSCO posted a 32.1% fall in its third-quarter operating profit, in line with analysts' estimates, as higher raw material costs weighed on margins.The company said it expects global steel demand to grow moderately in 2019, as China's infrastructure and property market expenditures would keep its steel demand solid, despite the country's weakened manufacturing sector.POSCO reported a consolidated operating profit of 1.0 trillion won ($854.34 million) for..