Was the Balrog drawn by the ring?

[Inziladun]

Originally Posted by Belegorn

I think the Balrog must have been very cautious after his peers were manhandled in the War of Wrath. I have no idea why he suddenly decided to show himself. Being a resident of Thangorodrim I do not think Dwarves working with metals would bother him much.

This put me in mind of a rather obscure line from ROTK, Appendix A III Durin's Folk. There it is noted that in the Third age the Dwarves of Moria were mining under Caradhras for mithril, and

Thus they roused from sleep a thing of terror that, flying from Thangorodrim, had lain hidden at the foundations of the earth since the coming of the Host of the West: a Balrog of Morgoth.

After 'roused from sleep' there is a footnote:

Or released it from prison; it may well be that it had already been awakened by the malice of Sauron.

Since the One contained part of Sauron's will and spirit, and it is elsewhere noted that it 'calls' to evil creatures, I do not think it is by any means a stretch to assume that the Ring was a factor in the Balrog's attack on the Fellowship.