# Signal Ocean: Brazil Premium Rebuilds: C3–C5 Spread Back Above $21/mt

> Brazil–China Capesize freight rates moved further above West Australia–China rates for a second week, with the C3–C5 spread rising above its 52-week average and around $22.7/mt on November 2. C5 vessel availability has increased while C3 ships remain relatively tight, even as iron ore prices hit a two-year low and China’s manufacturing PMI returned to contraction.

- Date: 2026-11-06 · published 2026-11-06T18:40:58.439Z
- Category: logistics · region Brazil–China · magnitude low
- Page: https://feedsoft.ai/events/84774-signal-ocean-brazil-premium-rebuilds-c3-c5-spread-back-above-21-mt
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

The widening freight premium raises the relative shipping cost of Brazilian bulk cargoes to China, though the article describes vessel-market conditions rather than a direct change in feed-grain trade. It does not establish a clear price impact for the listed feed commodities.

## Sources

- ajot.com: https://www.ajot.com/news/signal-ocean-brazil-premium-rebuilds-c3c5-spread-back-above-21-mt

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.