An evaluation is made of the relationship between the structural parameters of two-phase metallic materials and characteristics of the absorption and attenuation of elastic vibrations in the frequency range below 10⁻² MHz. It is shown that one-time dynamic loading of hard alloys with a framework-type structure generates acoustic-emission signals characterized by a linear spectrum. High-alloy steels with a matrix-type structure have a continuous spectrum with weak local maxima. It is found that the dominant frequencies in the spectra and the frequencies of he spectrum maxima are determined by the chemical composition and stereometric characteristics of the microstructure.