Discussions remain ongoing, but have been complicated by an Achilles problem which looks set to keep the 24 year old out of action until February.
He told the Hull Daily Mail: "I'm still hopeful that we can do something (with the contract).
"The most disappointing thing is getting injured. He could do without that when he's talking about a new contract.
"We'll still talk to him and we're still optimistic. I've got no intention of letting him go anywhere in January.
"I don't think he's going to be fit in January so I don't see any prospect of anyone coming in for him."
Bruce is also expecting to receive full backing from his board when it comes to Aluko's future, adding: "People are criticising my owners over the name change but the most important thing for me is if I turn around and say 'We're not selling Sone Aluko at whatever cost', then he (Assem Allam) won't do it. I'm confident about that.
"I can't see any reasoning in that one. I can't see us selling Aluko, even if he doesn't sign a new contract.
"I can't see it unless it's ridiculous money, and I can't see anyone paying ridiculous money for someone who's injured and played a handful of games since last Christmas."
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