Oops. I thought the looseness was in the ferrule slides. My mistake.
These aluminum ferrules don't have much give. Once the black is gone from the male slide, loose fits are common. On the other hand, the rest of the rod may be ugly, but if the male slide is still black the ferrule fit is likely still good.
These ferrules have a water stop. That eliminates dripping a super glue from inside the ferrule. You
may be able to drip very thin Zap-A-Gap into the ferrule joint after removing the wraps. If that doesn't work, you haven't lost anything. The Zap-A-Gap wouldn't survive the heat needed to remove the ferrule anyway.
I photographed the ferrules of an 8'6" Heddon Pal #30. They appear to be anodized. The outside was coated with something varnish-like. Whatever it is, it is breaking down. You can see the bumpy surface on the outside of the female ferrule. The second shot shows the black anodize remaining inside the female ferrule.
This rod is missing 3 of the 10 guides and the rest are all rough. The finish is coarse. But there is a lot of black remaining on the male slide. The ferrule still pops like a miniature bottle of champagne. Rebuild time...
Tom