Indicate a text span in the passage about which an inquisitive question is asked. (note, don't answer the question).
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Question: Sentence: The industry is " seeing a softening somewhat in volume and certainly in price in petrochemicals , " Glenn Cox , president of Phillips Petroleum Co . , said in an interview . " That change will obviously impact third and fourth quarter earnings " for the industry in general , he added .<sep>Question: what does softening mean?

Answer: softening

Question: Sentence: The U . S . , which is finalizing its steel - import quotas , is allocating a larger share of its steel market to developing and newly industrialized countries which have relatively unsubsidized steel industries .<sep>Question: Which newly industrialized countries?

Answer: newly industrialized countries

Question: Sentence: Ideal Basic Industries Inc . said its directors reached an agreement in principle calling for HOFI North America Inc . to combine its North American cement holdings with Ideal in a transaction that will leave Ideal ' s minority shareholders with 12 . 8 % of the combined company .<sep>Question: What does HOFI stand for?

Answer:
HOFI