Actually the Balrog had been in Moria a very long time, since the end of the First Age. It had hidden there , and was disturbed by the Dwarves in the Third Age. That being the case, I don't see how it could have even known about the Ring. I don't think Sauron was actively controlling it, but his thought did have an effect on many evil creatures. Since the Balrog was a servant of Morgoth as was Sauron, it would likely do whatever it could to aid Sauron generally.
[ December 08, 2001: Message edited by: Inziladun ]
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