Abstract: The export price of rare earth products has been in an unreasonable and unstable state in recent yearsdue to the disorder competition of China's rare earth industry, which led rare earth producers and the wholeindustry to the "Prisoner's dilemma" in terms of Nash equilibrium in game theory. The Nash equilibrium solutionmodel when rare earth companies are in static and non-cooperative state and the dynamic and optimal price modelwhen rare earth companies are in the state of cooperative competition are established from the viewpoint ofsustaining rational and stable rare price. Both static and dynamic Nash equilibrium solutions are calculated out ofthe two models. We conclude that China's rare earths export prices can be maintained at a reasonable and stablerange with industrial polices by government and the self-discipline of rare earth producers.