This paper deals with stacking sequence effects on stress variation in steel fibre reinforced aluminium metal-matrix composite plates prepared by squeeze casting process. By such an analysis, it is intended to form an opinion about elastic-plastic stress variation in laminated plates used in engineering applications associated with structural designs. Load carrying capacities of laminated composite plates for various stacking sequences are examined. Elastic/plastic and residual stress variations correspond to arbitrary lay-ups are given by means of figures. Laminated composite plates are assumed to be clamped at all edges. The finite element method is applied for such an analysis considering shear deformation effects and small plastic deformations. For the nonlinear solution of the problem, a combined incremental/iterative procedure (modified Newton-Raphson) is used. Mechanical properties of an orthotropic layer are obtained experimentally.