The young forward has made nine appearances in La Liga for the Spanish side so far this season and has notched up one assist for his team-mates in the top flight.
The teenager is rated as one of the most exciting young Spanish talents in La Liga and it is inevitable that he will be linked with a move away from the club in the coming years.
Torres is a naturally right-footed midfielder but can play anywhere across the front line, and Balague has confirmed that Liverpool FC are one of a number of clubs keeping an eye on his development ahead of the summer transfer window.
Balague told Sky Sports: “He is 18 years old and did very well against France in the international break for Spain Under-19s even though they did not make the European Championships.
“He was the best player for Spain at Under-19 level and the only one playing regularly in the top division.
“He has played six out of the last seven games, 11 in total this season, and quite clearly Valencia want to keep him.
“They renewed his contract until 2020 and put in a buyout clause of 25m euros, but Liverpool and others are keeping a close eye on him.”
Meanwhile, Liverpool FC are currently preparing for their crunch Champions League showdown against Manchester City at Anfield on Wednesday night.
The Reds are looking to claim a victory to take a big step towards reaching the last four of Europe’s elite club competition.
Jurgen Klopp’s men warmed up for the game with an impressive comeback win over Crystal Palace in the top flight on Saturday afternoon.
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