German steel giant Salzgitter AG on Tuesday reported pre-tax profit of €17 million ($18.3 million) for the first quarter, significantly lower than the previous year’s €126 million. The company also cut its full-year outlook. “As far as the remainder of the year is concerned, there are also indications that the German economy will not be able to keep pace with the upswing in other industrial nations. The signs of recovery are more hesitant and weaker than originally anticipated,” the company said in a statement. Earnings before interest, taxes, depreciation and amortization (EBITDA) declined to…