Freeport (NYSE:FCX), BHP (NYSE:BHP), Teck (NYSE:TCK), Southern Copper(NYSE:SCCO) Plunge on Falling Copper Prices

Copper prices have plummeted today, dragging down heavily-exposed copper companies like Freeport-McMoran (NYSE:FCX), BHP Billiton (NYSE:BHP), Teck Resources (NYSE:TCK) and Southern Copper(NYSE:SCCO).

Much of this was precipitated by the weakening euro versus the U.S. dollar, as the dollar index rose early in the trading session.

There is also the continuing uncertainty as to the demand which will come from China, as it's certain it'll fall from previous estimates as China battles inflationary pressures. Copper demand will remain strong, but not as strong as expected, which will weaken results going forward.

Refined copper imports for China plunged by 30 percent to 169.897 metric tons in October, the lowest level in the last 12 months. Strong domestic supply and higher global prices were the reason behind that fall in demand.

An ongoing weak U.S. housing market is also dragging on the market, and all of these factors aren't going to change any time soon, other than the U.S. dollar, which will continue to be pushed down in value because of the misguided policies of Ben Bernanke and the Federal Reserve.

Freeport was trading at $98.42, falling $3.59, or 3.52 percent at 2:10 PM EST. Tech Resources was at $47.96, dropping by $2.09, or 4.18 percent. Southern Copper fell to $41.97, losing $2.32, or 5.24 percent. BHP Billiton was trading down to $83.27, declining by $3.31, or 3.82 percent.