The world’s top three iron ore miners BHP Billiton, Rio Tinto and Vale plan to increase prices for iron ore for the third quarter this year ranging from 30 to 35 percent, and prices of coking coal, 10 to 15 percent, according to Brazilian media reports.

Brazilian miner Vale will increase the iron ore price by 35 percent starting July. In the second quarter of this year, the iron ore price has already increased by 90-100 percent, while the coking coal increased by 55 percent. Currently, spot prices of iron ore and coking coal are at the highest levels in the past two years.