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1/16 is a minimal bend but to get that you will have to bend it further which could cause problems. Not sure what "rubber coated whatever" you are referring to but you should be able to get that minor amount of correction if you are careful. Of course if heated red hot it would be very easy depending on material. Don't do that unless you know exactly what it's made of. Be prepared to replace it though. A second bend can sometimes cause it to break completely if pot metal or aluminum.