The propagation of time-harmonic plane elastic waves in infinite elastic composite materials consisting of linear elastic matrix and rigid penny-shaped inclusions is investigated in this paper. The inclusions are allowed to translate and rotate in the matrix. First, the three-dimensional (3D) wave scattering problem by a single inclusion is reduced to a system of boundary integral equations for the stress jumps across the inclusion surfaces. A boundary element method (BEM) is developed for solving the boundary integral equations numerically. Far-field scattering amplitudes and complex wavenumbers are computed by using the stress jumps. Then the solution of the single scattering problem is applied to estimate the effective dynamic parameters of the composite materials containing randomly distributed inclusions of dilute concentration. Numerical results for the attenuation coefficient and the effective velocity of longitudinal and transverse waves in infinite elastic composites containing parallel and randomly oriented rigid penny-shaped inclusions of equal size and equal mass are presented and discussed. The effects of the wave frequency, the inclusion mass, the inclusion density, and the inclusion orientation or the direction of the wave incidence on the attenuation coefficient and the effective wave velocities are analysed. The results presented in this paper are compared with the available analytical results in the low-frequency range.