[THE INVESTOR] HMC Investment Securities on July 22 forecast steelmaker POSCO will see its operating profit rise 10 percent from the first half to 1.43 trillion won (US$1.25 billion) on a non-consolidated basis. The brokerage also downplayed POSCO’s lackluster second-quarter earnings, saying it was caused by a delay in POSCO Engineering & Construction’s project building a steel mill in Brazil. The issue will likely be resolved by the fourth quarter, it said. China’s steel prices are also expecte