Analysis of customs statistics shows that the export volume of rare earth fell sharply in August and average export prices rose sharply, continuing the trend of July. Specifically, China's export volume in August was 1641.6 tons, a slight drop of 1.36% month-on-month, and a sharp drop 62.3% year-on-year. The average export price was US$14.50/kg, up 79.2% year-on-year, roughly the same as domestic market trend, the prices of rare earth products have gradually increased in recent months. Average export prices rose 53.7% in July, far outpacing price increase in the domestic market. However, exports volume fell 44% year on year, which was much smaller than the average prices drop. Therefore, the change in export variety is one of the important factors that trigger such changes in the market, and the export volume of light rare earth has decreased more than heavy rare earth. Measures such as "lockdown" caused by the spread of COVID-19 overseas have mainly directly affected consumption, transportation and thus demand and production, and created a vicious circle to some extent. In addition, although trade frictions are stalled on tariffs, it is reflected in various aspects such as scientific and technological barriers, countermeasures, which are bound to have a systemic impact and other colateral effects. According to customs statistics, exports of rare earths totaled 24377.4 tons from January to August, down 25.7% year on year.