The most common and most likely answer to this crossword clue is the 6 letter word MOLTEN
I've seen this crossword clue in Independent
M
O
L
T
E
N
Buddy explains!

The straight part
We know that "Liquid" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case liquid = molten.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does MOLTEN mean?
MOLTEN verb- To change (or to be changed) from a solid state to a liquid state, usually by a gradual heat.
- To dissolve, disperse, vanish.
- To soften, as by a warming or kindly influence; to relax; to render gentle or susceptible to mild influences; sometimes, in a bad sense, to take away the firmness of; to weaken.
- To be discouraged.
- To be emotionally softened or touched.
- To be very hot and sweat profusely.
- Melted.
- Made from a melted substance.
- Glowing red-hot.